Liberty Global steps up to help employees with $4M COVID-19 assistance fund

Liberty Global announces the creation of a $4 million assistance fund for its employees and their families. (Pixabay)

Liberty Global is putting $4 million, including $1 million from CEO Mike Fries, into an employee fund to combat the effects of COVID-19. Liberty Global announced its new Liberty Global Response Fund, which is intended to help employees and their families who have been impacted by coronavirus pandemic, on Thursday.

In addition to Fries, the program will also be funded by Liberty Global's executive leadership team and board of directors who will donate $2 million out of the rest of their 2020 salaries and director fees.

RELATED: Cisco morphs in face of the coronavirus pandemic

Blitz Week

Register for FierceTelecom Blitz Week - June 15-18

As the telecom industry moves forward in the age of new technology, FierceTelecom Blitz week addresses the questions of how platforms, providers, and more will modernize to keep up with these fast-paced changes and their current status of implementing these changes. Join us June 15-18 to dive deep into the world of telecom transformation.

Liberty Global will also match all donations to the fund in order to reach the $4 million mark. All of Liberty Global's 27,000 employees across Europe and the U.K will be eligible to apply confidentially for assistance via an online portal.

"At Liberty Global, we are a family first," Fries said in a statement. "On a day-to-day basis we are doing everything we can to protect the safety and well being of our employees, but sometimes that is not enough. Those with elderly parents, partners out of work, or other challenges need additional help to get through this crisis.

"We want them to know that we are here for them in their time of need. I am hopeful that the Liberty Global Response Fund continues to grow in size and will serve as a model for future support inside our company.”

The executive leadership team initially contributing to the fund includes 15 senior executives working at Liberty Global's central offices and operating companies in the U.S., U.K., Ireland, The Netherlands, Switzerland, Belgium and Eastern Europe.

Suggested Articles

France and Germany are teaming up to jointly create a cloud-computing ecosystem that would challenge AWS, Microsoft and Google, according to Reuters.

Calix has teamed up with Spirent for a single lab that speeds up testing cycles while lowering powering and capex.

VMware announced on Thursday that it has struck a deal to buy network security vendor Lastline for an undisclosed sum.