Klarna Announces Progressive Parental Leave and Benefit Policy for U.S. Employees
New Policy Includes 20-week Leave with Full Pay, Flexible Part-time Schedule and Child Care Subsidy Upon Returning to Work
NEW YORK and COLUMBUS, Ohio, Feb. 12, 2018 /PRNewswire/ -- Global payments provider Klarna (www.klarna.com) has implemented a new parental leave and benefits policy that offers all of its U.S. employees who become parents a comprehensive package that includes 20 weeks of leave at full pay, a flexible, part-time work week "ramp-up period" on their return and a two-year child care subsidy.
As of January 1, 2018, Klarna's full-time and part-time female and male employees who become parents—either biologically or through adoption—are eligible to receive the new parental leave and benefits. In addition, applicable benefits of the new policy will be extended retroactively to U.S. employees who became parents in 2017.
"We believe that parental bonding with newborns and adopted children is important for our employees' well-being, and we want to equally support these mothers and fathers as they go through these life-changing events by extending the fully paid parental leave policy to 20 weeks from the previous 12-week policy," said Jim Lofgren, CEO, Klarna North America. "Equally important to us is helping our employees as they come back to work. That's why we've instituted an innovative and flexible, part-time work week that ranges from 20 to 40 hours a week. This allows them to reduce the time commitment and financial stress they experience as they return to their professional routines."
The new Klarna parental leave and benefits policy for U.S. employees has three core components:
- Parental Leave: The new parent may take 20 weeks of leave at full pay, and with full health and welfare benefits, during the child's first two years.
- Ramp-Up Period: Upon returning to work, employees will have the option to return to work on a part-time schedule.
- Child Care Subsidy: Upon their return to work, Klarna will provide new parents with a child care benefit during the child's first two years that will subsidize parents up to $250 per month to defray costs.
Klarna is a leading payments provider that aims to make the payment process simple, smooth and safe for customers and its merchant partners. The company, founded in 2005, was recently named as one of the top disruptor companies in the world by CNBC.
Klarna works together with 89,000 merchants to offer payment solutions to more than 60 million users in Europe and North America. The company's North America offices are in Columbus, Ohio and New York. Klarna has 1,700 employees and is active in 14 countries. Financing through Klarna is issued by WebBank, member FDIC.