Forbes Recognizes Chamber Member COVID-19 Response AchievementsMay 28, 2020
Read more below on how Chamber members have set the standard for how businesses should respond in the face of a crisis.
AT&T has taken measures to accommodate the needs of its customers and employees amid COVID-19. For customers struggling financially due to layoffs and other virus impacts, the company extended time to pay past due bills.
The company has transitioned 130,000 employees to work from home, raised worked pay, and allowed time off for parents with kids at home due to school closings. AT&T also donated $10 million to grow online learning.
Bank of America
In addition to donating more than 4 million face masks and establishing a $100 million relief fund for local communities, Bank of America’s COVID-19 response has prioritized the needs of its employees through this difficult time. The company has announced it will not issue layoffs due to COVID-19 this year.
In addition, Bank of America has paid workers full-time salaries, even if hours were reduced. For call-center employees, the company raised their overtime pay to twice the normal rate. In March, the company gave $200 bonuses bi-weekly to eligible employees and expanded benefits.
Ford Motor Company
Ford stepped up to help manufacture critical medical supplies to prevent shortages in the midst of the COVID-19 crisis. The company has produced respirators, ventilators, masks, and ambulances along with other medical equipment.
The company’s top 300 executives stepped up by electing to defer 20-50% of their salaries. Ford also committed to providing health insurance to employees that decide to take sabbaticals.
JPMorgan Chase has remained essential in helping people and businesses remain afloat financially during the COVID-19 crisis. The company played a major role in dispersing Paycheck Protection Program (PPP) loans and announced it would give 211,000 loans in the second round of PPP totaling $15 billion.
In addition to starting multiple relief funds, JPMorgan Chase guaranteed all its employees extra paid leave and $1000 bonuses for tellers. Employees are now covered for COVID-19 testing through their medical plan.
Kroger has made efforts to give thanks to its employees who have continued to leave their homes during shutdowns to perform essential services. In addition to expanding sick and emergency-paid leave, the company has also made testing available to employees on the front lines.
The company awarded employees a “hero-bonus,” a $2 per hour pay increase, through mid-May. Full-time employees then received a one-time bonus of $400 and part-time workers received $200.
PepsiCo has taken steps to provide assistance to both its employees and communities in need around the world. The company announced it would give $50 million to effected communities globally.
For employees who couldn’t work remotely, the company offered 12 weeks of full pay. The company also increased benefits for employees including sick leave and paid front-line workers extra.
Wells Fargo has suspended foreclosure residential property sales, evictions, and involuntary auto repossessions for customers impacted by the COVID-19 crisis. It is also allowing 90-day deferrals and payment arrangements for students and others.
For employees working overtime, Wells Fargo is paying double the normal rate. For communities in need, Wells Fargo announced $175 million in donations for vulnerable communities impacted.