Cisco Reserves Rs.63.5 Crore to Financially Support its Indian Staff
Cisco, a US based multinational technology conglomerate, prepares a ‘one-off’ payment of around Rs.63.5 crore to help employees in India during the COVID-19 pandemic's second wave.
An Indian employee at Cisco took it to LinkedIn saying the company is offering 'crisis financial assistance', in which employees in the country will receive Rs.50,000 each.
To help its employees in the country, the company is also providing additional paid leave for volunteering, vaccine cost coverage, and wage advances, the employee wrote.
Cisco wrote in an email stating that it is also looking for new ways to improve the services available to its employees and their families. However, it did not disclose the sum being allocated to its employees.
On the other hand, the company announced that it has set-up 24/7 COVID-19 helpline that is run by a group of Cisco volunteers. The group is stated to have been supporting several hundred employees and their families by providing hospital beds, oxygen support, plasma, medicine, ambulance and other services across India for the last few days, the company wrote.
In a recent LinkedIn post, Cisco Chairman and CEO Chuck Robbins stated that the company has provided USD 1.75 million in financial assistance to date to meet urgent and essential needs such as oxygen concentrators and vaccinations.
"This is only the beginning and we will continue to extend support and services in response to changing needs to ensure we are doing whatever we can”, he added.
Cisco has dispatched an employee match COVID-19 India Fund to help seven response organizations operating on the ground in India, according to the top executive.
"All Cisco employees in India will receive an additional, one-off payment to help cover additional costs and better handle the situation”
As India deals with the aftermath of the second wave, hospitals across the country are experiencing a shortage of medical oxygen and beds.
Social media is overflowing with feeds implying needs for oxygen tubes, hospital beds, plasma donors, and ventilators. Oxygenators, breathing machines, and ventilators have been sourced and donated by various organizations.
"All Cisco employees in India will receive an additional, one-off payment to help cover additional costs and better handle the situation”, it wrote in the mail.