Business
Liberty Global Announces Creation of $4 Million COVID-19 Employee Assistance Fund
$2 Million to be Donated by Senior Executives and Board of Company, Including $1 Million by CEO Mike Fries Additional $2 Million to be Contributed by Company
About this update from Liberty Global Ltd.
[{"type":"text","content":"\n$2 Million to be Donated by Senior Executives and Board of Company, Including $1 Million by CEO Mike Fries\n\n\nAdditional $2 Million to be Contributed by Company\n\n\nFunds will be Available to Employees Experiencing COVID-19 Challenges Across Eight Countries\n\n DENVER, Colorado--(BUSINESS WIRE)--\nLiberty Global, one of the world’s leading converged video, broadband and communications companies operating across Europe, announced today the formation of a new Liberty Global Response Fund intended to help employees and their families who have been significantly affected by the COVID-19 crisis.\n\n\nThe program will be funded initially by Liberty’s executive leadership team and board of directors who will donate $2 million out of their remaining 2020 salaries and director fees. This amount includes $1 million from CEO Mike Fries.\n\n\nLiberty Global has also agreed to match all donations to the fund, which will bring the total amount available to employees to $4 million. All 27,000 Liberty Global employees will be eligible to confidentially apply for assistance via an online portal.\n\n\nMike Fries, CEO of Liberty Global explained, “At Liberty Global, we are a family first. 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.”\n\n\nAlongside the launch of the fund, Liberty Global’s operating companies continue to deliver critical broadband, voice and television services across Europe, and are investing in their own communities with both infrastructure expansion and a multitude of support programs, including:\n\n\nVirgin Media\n\n\n\nOffering unlimited minutes and a 10GB data boost to mobile customers in the UK at no extra cost\n\n\nProviding enhanced connectivity to critical public services such as NHS hospitals\n\n\nDelivering extra TV channels for free, including kids, drama and documentary programming, to help households stay entertained\n\n\n\nTelenet\n\n\n\nWorking with care homes in Belgium to connect elderly ...