Levi Strauss Enhances Family Leave Benefit
Levi Strauss & Co. (NYSE: LEVI) today announced its new paid family leave benefit for all U.S. corporate and benefits-eligible retail employees. The new policy provides up to eight weeks of paid time off per year to care for an immediate family member with a serious health condition, and extends the company’s commitment to building a best-in-class workplace that supports well-being and enables its employees to take care of themselves and their family members in the moments they need it most.
“Some of the most important investments we make are in the well-being of our employees. We are introducing paid family leave to offer our employees the flexibility to care for ill family members without worrying about the stability of their job or finances”
Today’s modern workforce is balancing growing demands from their work and personal lives. According to a Pew Research Center study, more than one in ten U.S. adults are caring for an aging parent or immediate family member at the same time they are raising their own children. This so-called “sandwich generation” is growing due to an increased aging population, greater prevalence of chronic diseases and geographically dispersed families. The National Business Group on Health reports that 88% of adult caregivers correlate the additional responsibility of tending to a sick family member with a negative impact on their own health, and 44% experience financial strain.
“Some of the most important investments we make are in the well-being of our employees. We are introducing paid family leave to offer our employees the flexibility to care for ill family members without worrying about the stability of their job or finances,” said Chip Bergh, president and chief executive officer of Levi Strauss & Co. “Access to paid family leave addresses the needs of the modern workforce and can help boost employee retention and loyalty. It’s not only the right thing to do for employees, it’s the smart thing to do for business.”
LS&Co.’s paid family leave benefit provides up to eight weeks of paid time off annually to care for an ill spouse, domestic partner, parent or stepparent, child or stepchild up to 18 years of age. The benefit builds on LS&Co.’s paid parental leave program announced in 2016, which provides eight weeks of paid time off to welcome or care for a new child. Paid family leave is available immediately to qualifying LS&Co. employees.
“We applaud Levi Strauss & Co.’s expansion of its industry-leading paid parental leave policy to include paid family leave for both its corporate and benefits-eligible hourly workers,” said Debra Ness, president of the National Partnership for Women & Families. “Levi Strauss & Co.’s CEO Chip Bergh and his leadership team understand that when working people can take the time they need to care for a loved one – whether it’s an aging family member or a new child – it’s good for business, workers and our economy.”
About Levi Strauss & Co.
Levi Strauss & Co. (LS&Co.) is one of the world’s largest brand-name apparel companies and a global leader in jeanswear. The company designs and markets jeans, casual wear and related accessories for men, women and children under the Levi’s®, Dockers®, Signature by Levi Strauss & Co.™, and Denizen® brands. Its products are sold in more than 110 countries worldwide through a combination of chain retailers, department stores, online sites, and a global footprint of approximately 3,000 retail stores and shop-in-shops. Levi Strauss & Co.’s reported 2019 net revenues were $5.8 billion. For more information, go to http://levistrauss.com.