Cisco India earmarks Rs 63.5 cr to provide financial support to staff

US-based networking solutions provider Cisco is making a "one-off payment" of about Rs 63.5 crore towards supporting staff in India during the second wave of the COVID-19 pandemic.

A Cisco India employee shared a post on LinkedIn saying the company is providing a 'crisis financial assistance' under which employees in the country are being given Rs 50,000 each.

The company is also offering additional paid leaves for volunteering work, vaccination cost coverage, and salary advances to support its staff in the country, the post said.

When contacted, Cisco - in an emailed statement said - the company continues to explore new ways to expand the resources available to its employees and their families.

"All Cisco employees in India will receive an extra, one-off payment to help cover additional expenses and manage the situation a little better," it added.

The company, however, did not disclose the amount being paid to employees.

Cisco - which counts India among its major engineering hubs - has about 12,700 employees in the country.

As India reels under the impact of the second wave, hospitals in several states are reeling under a shortage of medical oxygen and beds.

Social media timelines are filled with SOS calls with people looking for oxygen cylinders, hospital beds, plasma donors, and ventilators. Organisations across the spectrum have come forward to source and donate oxygenators, breathing machines, and ventilators.

Cisco said it has also set up a dedicated 24/7 COVID helpline that is managed by a group of Cisco volunteers.

Over the past few days, this group has assisted several hundred employees and their family members across India in getting hospital beds, oxygen support, plasma, medicines, ambulances, etc, the statement said.

Cisco Chairman and CEO Chuck Robbins, in a recent post on LinkedIn, had said the company has made available USD 1.75 million in financial aid to meet immediate and critical needs such as oxygen concentrators and vaccinations to date.

"This is just the start and we will continue to expand support and resources based on evolving needs to ensure we are doing all we can," he had added.

The top executive also noted that Cisco has set up an employee match COVID-19 India Fund to support seven response organisations working on the ground in India.


(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)


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