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Flipkart announces Rs 50,000 allowance for employees to adopt kids

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Bengaluru: Leading e-retailer Flipkart on Monday unveiled a novel policy to allow its employees to adopt children.

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Credits- indiantelevison.com

“Our employees will be granted paid leave and Rs.50,000 allowance to meet legal, agency and regulatory costs for adoption. We have about 30,000 employees across the country,” a Flipkart spokesman told IANS here.

Adoptive mothers will get six months paid leave and four months of flexible working hours, while adoptive fathers will be eligible for six weeks of paid leave.

Noting that more working couples were adopting children, the e-commerce player said its adoption assistance programme would add value and encourage work-life balance among professionals.

The company, however, did not give break-up of its employees, including working couples and how many of them will opt for adoption.

“The policy objective is to give employees time to bond with an adopted child. Absence from work on prior approval is flexible, as it allows more time to meet their personal needs and priorities,” the company said in a statement.

Adoptive employees can also avail three months of unpaid leave with assurance of job continuity.

“We will facilitate tie-up with day-care centres for children up to six years and its cost will be shared equally by the company and employees,” the statement noted.

In support of its initiative, the company quoted a report from the state-run central adoption resource authority, which said 1,368 children found new homes in the first quarter of this year across the country.

(IANS)

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Amazon Plans to Close its Domestic Marketplace in China by Mid-July

Amazon shoppers in China will no longer be able to buy goods from third-party merchants in the country, but they still will be able to order from the United States, Britain, Denmark and Japan via the firm’s global store

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FILE - Amazon plans to close its domestic marketplace in China to focus on more lucrative businesses there. VOA

Amazon.com Inc. plans to close its domestic marketplace in China by mid-July, people familiar with the matter told Reuters, focusing efforts on more lucrative businesses selling overseas goods and cloud services in the world’s most populous nation.

Amazon shoppers in China will no longer be able to buy goods from third-party merchants in the country, but they still will be able to order from the United States, Britain, Denmark and Japan via the firm’s global store. Amazon expects to close fulfillment centers and wind down support for domestic-selling merchants in China in the next 90 days, one of the people said.

Home-grown e-commerce

The move underscores how entrenched, home-grown e-commerce rivals have made it difficult for Amazon’s marketplace to gain a foothold. Consumer insights firm iResearch Global said Alibaba Group Holding Ltd’s Tmall marketplace and JD.com Inc. controlled 81.9 percent of the Chinese market last year.

“They’re pulling out because it’s not profitable and not growing,” said analyst Michael Pachter at Wedbush Securities. Ker Zheng, marketing specialist at Shenzhen-based e-commerce consultancy Azoya, said Amazon had no major competitive advantage in China over its domestic rivals.

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FILE – A logo of JD.com is seen on a helmet of a delivery man in Beijing, June 16, 2014. VOA

Unless someone is searching for a very specific imported good that can’t be found elsewhere, “there’s no reason for a consumer to pick Amazon because they’re not going to be able to ship things as fast as Tmall or JD,” he said.

Amazon’s customers in China will still be able to purchase the firm’s Kindle e-readers and online content, said the sources, who spoke on condition of anonymity. Amazon Web Services, the company’s cloud computing unit that sells data storage and computing power to enterprises, will remain as well.

The U.S.-listed shares of Alibaba and JD.com rose 1% Wednesday after Reuters first reported the move, before paring gains later in the day. Amazon’s shares closed flat.

US retreat, e-commerce showdown

The withdrawal of the world’s largest online retailer — founded by the world’s richest person — comes amid a broader e-commerce slowdown in China. Alibaba in January reported its lowest quarterly earnings growth since 2016, while JD.com is responding to the changing business environment with staff cuts.

 

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FILE – A worker removes an advertisement billboard of Indian online marketplace Flipkart, installed along the roadside in Mumbai, India, Oct. 16, 2015. Amazon.com Inc. is concentrating on India and its competition, Flipkart. VOA

It also follows the Chinese e-commerce retreat of other big-name Western retailers. Wal-Mart Stores Inc. sold its Chinese online shopping platform to JD.com in 2016 in return for a stake in JD.com to focus on its bricks-and-mortar stores.

Similarly, the country appears to factor less in the global aspirations of fellow U.S. tech majors Netflix Inc., Facebook Inc. and Alphabet Inc.’s Google, Pachter said.

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Amazon bought Chinese online shopping website Joyo.com in 2004 for $75 million, rebranding the business in 2011 as Amazon China. But in a sign of Tmall’s dominance, Amazon nevertheless opened an online store on the Alibaba site in 2015.

The firm is still expanding aggressively in other countries, notably India, where it is contending with local rival Flipkart. (VOA)