Unilever Earmarks $536 Million for Coronavirus Relief
24 Março 2020 - 9:24AM
Dow Jones News
By Maitane Sardon
Unilever PLC said Tuesday that it will earmark 500 million euros
($536.5 million) for coronavirus relief.
The consumer-goods manufacturer said it will contribute EUR100
million to help in the fight against the pandemic through donations
of soap, sanitizer, bleach and food to the Covid Action Platform of
the World Economic Forum, which works with global health
organizations.
The company will also offer EUR500 million of cash-flow relief
across its value chain. It said it will pay its small- and
medium-sized suppliers in advance to help them with financial
liquidity and will extend credit to selected small-scale retail
customers whose businesses rely on Unilever.
For up to three months, the company will protect its workforce
from sudden drops in pay that are the result of market disruption
or their inability to perform their roles, it said.
Write to Maitane Sardon at maitane.sardon@wsj.com
(END) Dow Jones Newswires
March 24, 2020 08:09 ET (12:09 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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