PTO, parental leave, pensions: Even the most prized benefits are on the chopping block
Mint Images/Getty Images Zoom is scaling back paid parental leave, while Deloitte is trimming PTO and other offerings for select workers. Many employers have already slashed perks such as gym discounts to rein in costs. Once a few big employers make a move, "it legitimizes that action for everybody else," said a former Google HR head. Cuts to workplace perks came first. Paid time off may be next. In the latest sign of employers flexing their power, at least two high-profile names are shrinking variations of the highly popular benefit. Zoom this year reduced the number of weeks of paid parental leave it offers, while Deloitte is also planning to do the same — and more — for select groups of workers starting in January. The changes could be an early signal of a broader shift: In a tight labor market , even highly valued benefits may be on the chopping block. Workers have fewer options for job-hopping, and once a few marquee employers make bold moves, others may be...
