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Asos offers staff flexible work and paid leave during menopause

Asos

Asos offers staff flexible work and paid leave during menopause

Staff at the online fashion store Asos will be allowed to work flexibly, as well as take time off at short notice, while going through the menopause.

It is one of several new policies being introduced by the clothing retailer aimed at supporting its employees who are “going through health-related life events”.

Other measures announced by Asos, which come into effect on Thursday, include paid leave for staff who have experienced a pregnancy loss or are undergoing fertility treatment, with five days paid leave provided a cycle to ensure appointments can be attended.

The company said it will allow employees who are dealing with pregnancy loss, including miscarriages and abortions, to take 10 days of leave, with the policy also applying to the partners of those who were pregnant and for surrogate pregnancies.

The new policies are gender-neutral, Asos said, with its chief executive, Nick Beighton, adding that staff will be supported “personally and financially”.

“All of us face unexpected challenges in life, and sometimes these can create very difficult circumstances which mean we need to step away from or change how we work,” he said.

“We’ve launched these new policies to reassure all Asosers that they will continue to be supported, personally and financially, throughout those difficult times. We’re here, no matter what it is and every step of the way.”

The new measures will “enable Asosers to take the time away from work that they need, while also increasing awareness of the impact of such common life events”, the company said in a statement.

As well as pregnancy loss, fertility treatment – which is not limited to any number of cycles – and the menopause, wider health issues requiring paid leave, such as cancer treatment and gender reassignment surgery, are also included in the policy framework.

The company will provide up to six weeks of paid leave for its 3,800-plus staff, who are mainly based in the UK, undergoing such treatments, as well as those fleeing domestic abuse situations.

It comes as Asos announced its ethnicity pay gap data for the first time earlier this week, which showed median pay for minority ethnic employees is now 5.9% higher than that of their white colleagues.

It represents a 21.2% improvement in the overall median ethnicity pay gap since 2020, the retailer said.

The moves by Asos follows an announcement by online bank Monzo in May that it would provide paid leave for employees who are affected by the loss of a pregnancy, after the departure of its former chief executive, Tom Blomfield.

Blomfield, who founded Monzo, stepped down in January after his own struggles with anxiety and stress.

Monzo’s policies give either partner up to 10 extra days of paid leave if they lose a baby due to abortion, miscarriage or stillbirth.

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Business

Nigeria oil production drops to 1.231m barrels per day- OPEC

OPEC: Russia-Ukraine war causing volatility in global energy market

Nigeria’s crude oil production suffered its second consecutive monthly decline since the beginning of this year, as it dropped to 1.231 million barrels per day in March, the Organisation of Petroleum Exporting Countries has revealed.

OPEC disclosed this in its latest Monthly Oil Market Report for April 2024, stating that crude oil production details which it got through direct communication from Nigeria showed that the country pumped less oil in March compared to February.

Data from the report indicated that Nigeria produced 1.322 million barrels per day of crude in February this year, but this dropped to 1.231mbpd in March, representing a plunge of 91mbpd.

The report further added that the country had produced 1.427mbpd of crude in January, but this was not sustained in February as it dropped in that month, while the southward oil production continued in March.

However, OPEC data showed that Nigeria’s average crude oil production in the first quarter of 2024 was 1.327mbpd, higher than the 1.313mbpd average oil production in the fourth quarter of 2023.

Nigeria’s first quarter oil output in 2024 was also higher than the 1.201mbpd average production in the third quarter of 2023.

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Business

Emirates Airlines to resume Nigeria flights soon – Keyamo

Emirates, UAE, has concluded plans to resume flights with Nigeria.

This followed numerous visits from President Bola Tinubu to UAE over the communication breakdown between both countries.

Featuring on Arise Television on Monday, the Minister of Aviation and Aerospace Development, Festus Keyamo, said the Emirates Airline had already indicated its readiness in a letter sent to the Nigerian Government.

Keyamo explained that what transpired during the earlier visit and resolution was not fake but was presented in a ‘hasty’ manner.

He said: “Emirates flight resumption is almost happening. I just received a letter from Emirates. The letter is on my phone now. They have gone through all the gamut and they are ready to come back. They will announce the date because to restart a route, they must get an aircraft for that route.

“I am announcing to Nigerians for the first time; that I just received a letter from Emirates now. The letter is with me. I have a hard copy thanking you for all the efforts we made. Mr President was the showman here. He was the one who pushed for it. He made my job easy because he went there, and had a diplomatic shuttle to resolve all the issues.

“That was why I said the last announcement was hasty and not fake news.

“They will announce the date for their next flight. We have received a letter confirming that all the issues have been resolved and prepared to start coming back. It may be before June.”

Apart from Emirates suspending flights to Nigeria, in 2022, the UAE Immigration Department notified its trade partners and travel agencies that it was stopping visa applications from 22 countries, 20 of which are African nations.

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Business

CICB records 63% revenue growth in 2023

The Chartered Institute of Bankers of Nigeria, CIBN, says it recorded a 63.60 per cent growth of operating revenue, which stood at N1.37 billion in 2023, marking a significant increase from the N837.94 million recorded in 2022.

CIBN’s president, Ken Opara, disclosed this on Saturday in Lagos.

Opara added that the cost-to-income ratio for the year ended December 31, 2023, stood at 50.72 per cent, down from 59.41 per cent in the corresponding period in 2022.

“I am particularly delighted that our institute continued to wax stronger financially, notwithstanding the economic downturns and headwinds in 2023.

“It is on record that our institute, for the first time, crossed the one billion Naira mark by achieving a Net Operating Surplus of N1.371 billion in 2023 when compared with N837.943 million achieved in 2022, representing a growth of 63.60 per cent.

“Similarly, total revenue grew from N2.065 billion recorded in 2022 to N2.782 billion in 2023, representing 34.72 per cent growth, while total assets grew from N7.821 billion in 2022 to N9.119 billion in 2023.

“The cost-to-income ratio for the year ended December 31, 2023, stood at 50.72 per cent, down from 59.41 per cent in the corresponding period in 2022. This ratio is way below the approved Governing Council threshold of 61 per cent for the 2023 financial year.

“I am persuaded that with prudent and efficient management of resources, as well as diligent execution of our strategic plan, our institute will sustain this northward trajectory,” he said.

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