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Research isn’t exact, but recent polling shows that as many as half of Americans under the age of 40 have a tattoo, and that has implications for the job market.

Hinterhaus Productions | Stone | Getty Images

The growing battle to attract and retain workers has led employers to adjust longstanding workplace and hiring policies, from embracing hybrid and remote work to eliminating college degree requirements. A less-covered policy also changing: visible display of tattoos on workers.

Companies including Disney, UPS and Virgin Atlantic have relaxed their dress and style codes to allow employees to show their tattoos in the workplace. Many of the moves have come over the past two years as the tight labor market that preceded Covid became even more intensely competitive during the pandemic.

When longtime Home Depot CFO Carol Tomé was named CEO of UPS in June 2020, many of her first efforts to shake up the package delivery giant centered around increasing the job satisfaction of the company’s more than 534,000 workers globally. A few of those initiatives centered on the company’s dress and style restrictions.

“We did not allow facial hair; we did not allow natural hair. So, if you’re African American and you wanted to have an afro or twist or braid, that wasn’t permitted. Our tattoo policy was more restrictive than the U.S. Army,” Tomé told CNBC last year. 

UPS, well known for its regimented brown uniform and driver dress code, acknowledged that it needed to make changes that “would create a more modern workplace for our employees that allows them to bring their authentic selves to work,” said Christopher Bartlett, UPS vice president of people and culture.

Initially, UPS looked at its hair- and beard-related policies, which previously barred men from having hair that extended below the collar or beards. The adjusted policy, rolled out in November 2020, now permits beards and mustaches “worn in a businesslike manner,” as well as several “natural hairstyles.” The policy, however, says employees are expected to maintain a neat and clean appearance “appropriate for their job and workplace,” and that hair or beard length can’t be a safety concern.

Shifting views on tattoos at work

Bartlett said after that policy was well received, UPS began looking at changes to its tattoo policy. Previously, the company barred employees from showing any visible tattoos — workers with tattoos had to cover them with long sleeves or pants, or skin-colored coverings.

After a series of culture surveys, discussions with employees and other research, UPS settled on a new policy announced in April 2021 that would allow employees to show their tattoos provided they don’t contain any offensive words or images. Workers are also not allowed to have tattoos on their hands, head, neck or face.

“Tattoos matter to people, and while there was a time where people may have gotten a tattoo on a whim, more frequently now a tattoo really matters to someone; it’s part of who they are,” Bartlett said. “We wanted people to feel like they could bring themselves to work not only in their current job but as they thought about their whole career.”

Disney‘s parks division underwent a similar shift in April 2021, updating its dress and style code to allow workers to show their tattoos, which it said was part of a wider effort to make its employees and guests feel more welcome at its theme parks.

The policy change “provides greater flexibility with respect to forms of personal expression surrounding gender-inclusive hairstyles, jewelry, nail styles, and costume choices; and allowing appropriate visible tattoos,” Josh D’Amaro, chairman of Disney parks, experiences and products, wrote in a blog post on Disney’s website.

“We’re updating them to not only remain relevant in today’s workplace, but also enable our cast members to better express their cultures and individuality at work,” D’Amaro wrote.

According to the Disney cast member handbook, visible tattoos that are no larger than an extended hand are permitted except for any on the face, head, or neck. For larger tattoos on the arm or leg, employees can wear matching fabric tattoo sleeves. Any tattoos that depict nudity, offensive or inappropriate language, or violate any company policies are also not permitted.

Disney did not respond to a request for comment.

Virgin Atlantic, the British airline owned by Richard Branson, removed its ban on visible tattoos for uniformed employees in May. Estelle Hollingsworth, chief people officer at Virgin Atlantic, said in an emailed statement, “Many people use tattoos to express their unique identities and our customer-facing and uniformed colleagues should not be excluded from doing so if they choose.”

The U.S. Army has taken similar steps, rolling out an updated directive in June further expanding its tattoo allowance, including tattoos on hands and the back of the neck. The Army previously relaxed its restrictions that limited the number of tattoos that recruits and soldiers could have on their arms and legs in 2015.

“We always review policy to keep the Army as an open option to as many people as possible who want to serve,” Maj. Gen. Doug Stitt, Director of Military Personnel Management, told the Army’s news service. “This directive makes sense for currently serving Soldiers and allows a greater number of talented individuals the opportunity to serve now.”

According to the United States Army Training and Doctrine Command, 41% of 18- to 34-year-olds have at least one or more tattoos. 

Customers more accepting of tattooed workers

Enrica Ruggs, an associate professor at the University of Houston C.T. Bauer College of Business Department of Management and Leadership, said that there have been long-standing negative stigmas towards tattoos that harkened back to biker culture and a sense that rebellious people were the ones that got tattoos. That carried over into corporate culture, where hiring managers would stereotype applicants with visible tattoos, or where employers would worry that employing someone with tattoos would turn off customers.

However, Ruggs said recent research found that most tattoos now reflect a sense of belonging – for example, in-memorial images, callouts to their culture or profession, or a tattoo that matches one on a loved one.

Ruggs ran an experiment measuring customer reaction to workers wearing temporary tattoos. While some customers still held negative stereotypes about tattoos, the tattooed employees had just as many sales as the untattooed ones. Negative stereotypes also did not negatively affect customer perception of the organization. In fact, tattooed employees in white-color or creative jobs were looked at more favorably and competent than non-tattooed employees by customers, Ruggs’ research showed.

“Part of the argument has always been that it’ll hurt the organization, and that could actually change a consumer’s purchasing behavior,” Ruggs said. “But if the cornerstone of your business is service, that’s not changing, but allowing and relaxing some of these policies can help with employee morale and can expand who you can hire, which can help to improve employee performance. If employees are happy and they feel satisfied with their employee, they are likely to also be very productive.”

While there aren’t exact statistics regarding tattoos, a January Rasmussen Reports survey found that nearly half of Americans under 40 have tattoos. Across all ages, 33% of Americans have tattoos, the survey found.

The New York City Council currently has a bill that would look to curb discrimination against people with tattoos, including in the workplace. The bill would add tattoos to the categories in the city’s administrative code that are already prohibited from discrimination such as race or sexual orientation. While it would still allow employers to mandate that employees cover tattoos, it would require them to prove that not showing a tattoo is a “bona fide occupational qualification.”

Bartlett said that after UPS changed its policy, he noticed that several employees posted their UPS-themed tattoos on the company’s internal message board.

“When someone puts a UPS logo on them after a 25-year driving career here, that matters, and it shows that the company matters to them,” he said. “This isn’t a P&L play here, but this is about inclusion and bringing your authentic self to work.”

 Join us October 25 – 26, 2022 for the CNBC Work Summit — Dislocation, Negotiation, and Determination: The World of Work Right Now. Visit CNBC Events to register.

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Klarna IPO and ASML’s Mistral bet revive Europe’s tech dreams

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Klarna IPO and ASML's Mistral bet revive Europe's tech dreams

Sebastian Siemiatkowski, CEO and Co-Founder of Swedish fintech Klarna, gives a thumbs up during the company’s IPO at the New York Stock Exchange in New York City, U.S., Sept. 10, 2025.

Brendan McDermid | Reuters

LONDON — It’s been a busy week for the European technology sector.

On Tuesday, London-headquartered artificial intelligence startup ElevenLabs announced it would let employees sell shares in a secondary round that doubles its valuation to $6.6 billion.

Then, Dutch chip firm ASML on Wednesday confirmed it was leading French AI firm Mistral’s 1.7 billion-euro Series C funding round at a valuation of 11.7 billion euros ($13.7 billion) — up from 5.8 billion euros last year. Mistral is considered a competitor to the likes of OpenAI and Anthropic.

To cap it off, Swedish fintech firm Klarna on Thursday debuted on the New York Stock Exchange after a long-awaited initial public offering. Klarna shares ended the day at $45.82, giving it a market value of over $17 billion.

These developments have revived hopes that Europe is capable of developing a tech industry that can compete with the U.S. and Asia. For the past decade, investors have been talking up Europe’s potential to build valuable tech firms, rebuffing the idea that Silicon Valley is the only place to create innovative new ventures.

Buy now, pay later firm Klarna valued at $17 billion after U.S. IPO

However, dreams of a “golden era” of European tech never quite came to fruition.

A key curveball came in the form of Russia’s 2022 invasion of Ukraine, which caused inflation to soar and global central banks to hike interest rates as a result. Higher rates are considered bad for capital-intensive tech firms, which often need to raise cash to grow.

Ironically, that same year, Klarna — which at one point was valued as much as $45.6 billion in a funding round led by SoftBank — had its market value slashed 85% to $6.7 billion.

Now, Europe’s venture capital investors view the recent buzz around the region’s tech firms as less of a renaissance and more of a “growing wave.”

“This started 25 years ago when we saw the first signs of a European tech ecosystem inspired by the original dotcom boom that was very much a Silicon Valley affair,” Suranga Chandratillake, partner at Balderton Capital, told CNBC.

Balderton has backed a number of notable European tech names including fintech firm Revolut and self-driving vehicle tech developer Wayve.

“There have been temporary setbacks: the 2008 financial crisis, the post-Covid tech slump, but the ecosystem has bounced back stronger each time,” Chandratillake said.

“Right now, the confluence of a huge new technological opportunity in the form of generative AI, as well as a community that has done it before and has access to the capital required, is, unsurprisingly, yielding a huge number of sector-defining companies,” he added.

Europe vs. U.S.

Investors backing the continent’s tech startups say there’s plenty of money to be made — particularly amid the economic uncertainty caused by President Donald Trump’s trade tariffs.

For one, there’s a clear discount on European tech right now. Venture firm Atomico’s annual “State of European Tech” report last year pegged the value of the European tech ecosystem at $3 trillion and predicted it will reach $8 trillion by 2034. Compare that to the story in the U.S., where the tech sector’s biggest megacap stocks combined are worth over $20 trillion.

“Ten years ago, there wasn’t a single European startup valued at over $50 billion; today, there are several,” Jan Hammer, partner at Index Ventures, which has backed the likes of Revolut and Adyen, told CNBC.

“Tens of thousands of people now have firsthand experience building and scaling global companies from companies such as Revolut, Alan, Mistral and Adyen,” Hammer added. “Crucially, European startups are no longer simply expanding abroad — they are born global from day one.”

Read more CNBC tech news

Amy Nauikoas, founder and CEO of fintech investor Anthemis, suggested that investors may be viewing Europe as something of a safe haven market amid heightened geopolitical risks and macroeconomic uncertainty.

“This is an investing opportunity for sure,” Nauikoas told CNBC. “Macroeconomic dislocation always favors early-stage entrepreneurial disruption and innovation.”

“This time around, trends in family office, capital shifts … and the general constipation of the U.S. institutional allocation market suggest that there should be a lot more money flowing from … global investors to U.K. [and] European private markets.”

Problems remain

Despite the bullish sentiment surrounding European tech, there remain systemic challenges that make it harder for the region’s tech firms to achieve the scale of their U.S. and Asian counterparts.

Startup investors have been pushing for more allocation from pension funds into venture capital funds in Europe for some time. And the European market is highly fragmented, with regulations varying from country to country.

“There’s really nothing that stops European tech companies to scale, to become huge,” Niklas Zennström. CEO and founding partner of early Klarna investor Atomico, told CNBC.

“However, there’s some conditions that make it harder,” he added. “We still don’t have a single market.”

Several tech entrepreneurs and investors have backed a new initiative called “EU Inc.” Launched last year, its aim is to boost the European Union’s tech sector via the formation of a “28th regime” — a proposed pan-European legal framework to simplify the complex regulations across various individual EU member states.

“Europe is in a bad headspace at the moment for quite obvious reasons, but I don’t think a lot of the founders who are there really are,” Bede Moore, chief commercial officer of early-stage investment firm Antler, told CNBC.

“At best, what you can say is that there’s this secondary tailwind, which is that people are feeling galvanized by the need for Europe to … be a bit more self-standing.”

WATCH: CNBC interviews Klarna CEO Sebastian Siemiatkowski

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Winklevoss-founded Gemini reportedly prices IPO at $28 per share, valuing the crypto exchange at $3.3 billion

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Winklevoss-founded Gemini reportedly prices IPO at  per share, valuing the crypto exchange at .3 billion

Tyler Winklevoss and Cameron Winklevoss (L-R), creators of crypto exchange Gemini Trust Co., on stage at the Bitcoin 2021 Convention, a cryptocurrency conference held at the Mana Convention Center in Wynwood in Miami, Florida, on June 4, 2021.

Joe Raedle | Getty Images

Gemini Space Station, the crypto company founded by Cameron and Tyler Winklevoss, priced its initial public offering at $28 per share late Thursday, according to Bloomberg.

A person familiar with the offering told the news service that the company priced the offering above its expected range of $24 to $26, which would value the company at $3.3 billion.

Since Gemini capped the value of the offering at $425 million, 15.2 million shares were sold, according to the report. That was a measure of high demand for the crypto company, which had initially marketed 16.67 million shares. Earlier this week, it increased its proposed price range from between $17 and $19 apiece.

A Gemini spokesperson could not confirm the report.

The company and the selling stockholders granted its underwriters — led by and Goldman Sachs, Citigroup and Morgan Stanley — a 30-day option to sell an additional 452,807 and 380,526 shares, respectively, per the registration form. Gemini stock will trade on the Nasdaq under ticker symbol “GEMI.”

Up to 30% of the shares offered will be reserved for retail investors through Robinhood, SoFi, Hong Kong-based Futu Securities, Singapore’s Moomoo Financial, Webull and other platforms.

Gemini, which primarily operates as a cryptocurrency exchange, was founded by the Winklevoss brothers in 2014 and holds more than $21 billion of assets on its platform as of the end of July.

Initial trading will give the market a sense of how long it can keep the crypto IPO party going. Circle Internet and Bullish had successful listings, but there has been a recent consolidation in the prices of blue chip cryptocurrencies like bitcoin and ether. Also, in contrast to those companies’ profitability, Gemini has reported widening losses, especially in 2025. Per its registration with the Securities and Exchange Commission, Gemini posted a net loss of $159 million in 2024, and in the first half of this year, it lost $283 million.

This week, however, Gemini received a big vote of institutional confidence when Nasdaq said it’s making a strategic investment of $50 million in the crypto company. Nasdaq is seeking to offer its clients access to Gemini’s custodial services, and gain a distribution partner for its trade management system known as Calypso.

Gemini also offers a crypto-backed credit card, and last month, launched another card in partnership with Ripple. The latter garnered more than 30,000 credit card sign-ups in August, a new monthly high that was more than twice the number of credit card sign-ups in the prior month, according to the S-1 filing.

Don’t miss these cryptocurrency insights from CNBC Pro:

(Learn the best 2026 strategies from inside the NYSE with Josh Brown and others at CNBC PRO Live. Tickets and info here.)

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OpenAI says nonprofit parent will own equity stake in company of over $100 billion

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OpenAI says nonprofit parent will own equity stake in company of over 0 billion

Microsoft Chairman and Chief Executive Officer Satya Nadella (L), speaks with OpenAI Chief Executive Officer Sam Altman, who joined by video during the Microsoft Build 2025, conference in Seattle, Washington on May 19, 2025.

Jason Redmond | AFP | Getty Images

OpenAI on Thursday said its nonprofit parent will continue to have oversight over the company and will own an equity stake of more than $100 billion.

The artificial intelligence startup, recently valued at $500 billion, said this structure will make the nonprofit “one of the most well-resourced philanthropic organizations in the world,” and will allow the company to continue to raise capital.

OpenAI also announced it has signed a non-binding memorandum of understanding with Microsoft, which outlines the next phase of their partnership. Microsoft has invested over $13 billion in OpenAI, backing the company as early as 2019, three years before the launch of of the chatbot ChatGPT.

“We are actively working to finalize contractual terms in a definitive agreement,” OpenAI said in a joint statement with Microsoft, which is also the company’s key cloud partner. “Together, we remain focused on delivering the best AI tools for everyone, grounded in our shared commitment to safety.”

In May, OpenAI bowed to pressure from civic leaders and ex-employees, announcing that its nonprofit would retain control even as the company was restructuring into a public benefit corporation. OpenAI was founded as a nonprofit research lab in 2015, but has in recent years become one of the fastest-growing commercial entities on the planet.

OpenAI said Thursday it is working closely with the California and Delaware Attorneys General to establish its structure.

“OpenAI started as a nonprofit, remains one today, and will continue to be one – with the nonprofit holding the authority that guides our future,” the company’s Chairman Bret Taylor said in a statement Thursday.

The startup has been engulfed in a heated legal battle with Elon Musk, one of its co-founders. Musk has been trying to keep OpenAI from converting into a for-profit company as he competes in the generative AI market with his own startup, xAI.

OpenAI said its nonprofit is also opening applications for the first phase of a $50 million grant initiative that is aimed to support other nonprofit and community organizations across AI literacy, economic opportunity and community innovation.

WATCH: AI’s trillion-dollar money loop

AI's trillion dollar money loop

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