Swedish automaker Volvo Cars announced on March 30 that it is increasing paid parental leave to 24 weeks for employees around the world, regardless of gender. All employees who have worked at the company for at least one year are eligible for the new "Family Bond" program, including those who become parents via adoption, foster care and surrogates. Volvo CEO Hakan Samuelsson announced that the new policy is intended to help the company acquire and retain talent as it focuses on becoming an all-electric vehicle manufacturer by 2030. Samuelsson said the company expects the new program to cost a “considerable sum," likely in the “single-digit millions.” He said as long as “it gives us better, diverse management and a stronger brand, it will definitely be worth it.”

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