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Homemade knick-knack marketplace Etsy Inc. (ETSY) opened today at $9.12 per share, dropped to a low of $8.94 per share, and then closed on the day at $9.16 per share. This marginal fluctuation in stock price coincides with the company’s announcement of a new paternity leave program.
Per a post on Etsy’s blog yesterday, the company will “take a significant step forward in our parental leave policy.” Beginning in April, “Etsy employees will be eligible for 26 weeks of fully paid leave when they become a parent through birth or adoption, regardless of their gender, country of residence or family circumstance.”
“When my wife and I adopted our son nearly four years ago, I took the full five weeks of leave we offered at the time,” says Chad Dickerson, Etsy CEO. “It was the most important way I could have spent that time. Building a company is a team effort that includes the immense support we get from our families. I’m excited that our new leave policy will strengthen families and, as a result, the company as a whole.”
This is a huge step for the company, in that Etsy’s previous policy offered mothers 12 weeks of paid leave and fathers five weeks.
In November 2015, movie and TV streaming giant Netflix (NFLX) announced yearlong paid parental leave for its salaried employees; hourly employees, unfortunately, only receive 16 weeks. Per an article by Forbes, “Adobe [ADBE] offers 26 weeks paid; eBay [EBAY] offers 24. Twitter [TWTR], Microsoft [MSFT] and Google [GOOGL] give 20.”
Etsy Inc. is currently a Zacks Rank #1 (Strong Buy).
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