NBCU, Sky owner Comcast pledges $500m relief fund
US telecoms giant Comcast Corp has pledged $500m to help employees struggling financially due to the coronavirus pandemic, while its five top executives are planning to donate their salaries to Covid-19 charities.
The Philadelphia-based conglomerate counts NBCUniversal, Sky Group and Xfinity among its holdings.
Comcast CEO Brian Roberts, alongside chief financial officer Mike Cavanagh, Comcast Cable CEO Dave Watson, NBCUniversal CEO Jeff Shell and Sky CEO Jeremy Darroch, will give up 100% of their salaries to support the Coronvirus relief efforts.
“We hope in some small way we can make this time easier on our employees, our local communities and our customers,” wrote the Comcast chairman and CEO Roberts in a memo to staff members yesterday.
He added that the funds would be set aside for pay and benefits for employees “where operations have been paused or impacted.”
“None of us has ever experienced anything like this before, and while it is easy to get mired in the many challenges we are all facing, I think that in uncertain times like these it is incumbent upon us to remain optimistic and look for the good, even if it can be elusive,” wrote Roberts.
Roberts earned $3.2m in salary in 2018, in addition to shares that took his total compensation to around $35m.