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.
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.