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New research by the Institute for Fiscal Studies has found that one in five low-paid men aged 25 to 55 now work part-time. While 95% of top-earning men normally work full-time, 20% of the lowest paid now work part-time. That means wage inequality for men has risen over two decades, but for women the opposite is the case. More women have had a better education in recent years and more have moved into full-time jobs. As a result their pay has improved and they have had less incentive to leave the workforce. However, the research does not reveal why increasing numbers of low-paid men are working part time. Jonathan Cribb, senior research economist at the IFS and author of the report, said: "To understand the drivers of inequality in the UK it is vital to understand the growing association between low hourly wages and low hours of work among men." Less secure There are two schools of thought about what might be happening. It may be that increasing numbers of men want to work part-time, although this seems unlikely. The second theory is based on the sectors where these low-paid jobs are found. Six in ten of them are in the retail, wholesale or hospitality sectors.
Somehow, everyone suddenly began to see that the emperor had no clothes; the company had been motoring along burning vast amounts of venture money in order to finance huge losses at the rate of tens of millions of dollars per month thanks to its sole reliance on gross merchandise value. Almost half of its goods sold were smartphones -- which meant that there was no attention paid to product diversity and therefore customer loyalty. Plus, in an act of sheer lunacy, it shut down its mobile and desktop website and put all its chips on an app-only strategy which it has now rescinded. Meanwhile, half of its much ballyhooed recent senior hires from Silicon Valley and McKinsey abandoned ship. The icing on the rotten cake was a publicly criticized attempt to delay the start dates of new hires from the country's best business schools. There was much housecleaning to be done if there was any hope of competing with a rampaging Amazon, and Krishnamurthy, who formerly worked with Procter & Gamble in a supply chain capacity and with eBay in finance before joining Tiger, was the one chosen to do so. Krishnamurthy's immediate and enormous challenge upon taking over was to best Amazon during the intense sales event of the year -- Diwali -- and he seemed to have delivered. Flipkart's sales of 15.5 million units outsold Amazon's 15 million units, generating gross sales of at least 3,000 crore rupees during its five-day flagship sale Big Billion Days (BBD), although it's anybody's guess as to who generated the greater net revenue, if at all. According to Mint, however, Flipkart was, by and large, comfortably ahead of Amazon in terms of sales. Considering its past woes and so-far anemic challenge to the Great White Shark from Seattle, this was probably enough to generate widespread euphoria within the company and amongst its investors, profits be damned (which, frankly, is still an unrealistic expectation for ecommerce in India). We will never probably know this anytime soon, but I imagine that both the co-founding Bansals are a little more than relieved to be handing over their baby to Tiger.
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