Related topics

Mac Workers Who Adopt Get Leave

January 27, 2000

WASHINGTON (AP) _ Freddie Mac, the federally chartered mortgage company, said Wednesday it will give employees who adopt up to six weeks of paid leave time to care for the child.

``We recognize that adoption is a lifelong commitment that deserves all of the benefits that giving birth receives,″ said Candice Mendenhall, Freddie Mac’s senior vice president of human resources.

Last fall, President Clinton proposed that states subsidize parental leaves for people after the birth or adoption of a child.

Parents are already entitled to up to 12 weeks of unpaid leave with the guarantee of job protection under the 1993 Family and Medical Leave Act. About 24 million people have used some or all of their entitled 12 weeks to care for a new baby or other family member.

But some parents don’t take a leave because they don’t want to lose the income.

Freddie Mac employees who work full or part-time, have been with the company six months or more and work at least 20 hours or more a week are eligible for the paid leave.

Freddie Mac _ a government-chartered corporations whose stock is publicly traded _ buys mortgages from original lenders such as banks and packages them into securities for resale to investors. The company has 3,000 employees.

Update hourly