Liberty Global announces US$4Mn in funds to support its employees

Date: April 11, 2020

Liberty Global announces US$4Mn in funds to support its employees

Liberty Global, one of the leading telecommunication multinational companies with headquarters in Europe, has reportedly formed the Liberty Global Response Fund to support its workforce and their families who have significantly been impacted by the COVID-19 pandemic.

Sources cite that the company’s executive leadership team and board of directors will initially contribute USD 2 million from their remaining 2020 salaries and director fees. This amount also includes USD 1 million from the company’s CEO, Mike Fries.

The company has agreed to match all donations to the fund, bringing the total amount available for employees to USD 4 million. Liberty’s all 27000 employees worldwide can confidentially apply for assistance via the online portal.

Commenting on the move, Mike Fries said that the company is taking proactive steps to safeguard and protect the wellbeing of its employees. However, sometimes employees with elderly parents, partners out of work, or any other challenges require additional help to get through such crisis.

With this initiative the Liberty is helping its employees in this current crisis and is optimistic about the growth of the Liberty Global Response Fund which would cater as a model for future support inside the company.

Along with the response fund, Liberty Global’s operating companies are continuously delivering critical voice, television, and broadband services across Europe. These companies are supporting their communities with both multitudes of support programs and infrastructure expansion.

For the record, coronavirus has infected more than 1.5 million people and killed over 89,000 worldwide causing significant stress on economies.

About Liberty Global

It is one of the leading broadband, converged video, and communications service provider in the world, with a strong presence in 6 European nations under the brand name Virgin Media, UPC, and Telenet. The company is investing in digital platforms and infrastructure that empower its consumers to make the most of the digital revolution.

Source Credit - https://www.oaoa.com/news/business/article_a6709c0f-0449-5ddf-bd6b-9b89659b4945.html

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Liberty Global announces US$4Mn in funds to support its employees