As Americans line up in food lines desperate for help and literally millions have applied for unemployment in just a two weeks, the Indian American CEO of Palo Alto Networks Inc is pledging no layoffs, reports Indica News.
“We have committed to no COVID-19 layoffs in our company because people are very insecure, people are concerned about whether they’ll have a job once this economic thing comes back around,” Nikesh Arora said on Mad Money with CNBC’s Jim Cramer.
Arora also said he would work without a salary and set up a COVID-19 Relief fund. Palo Alto Networks also promised to match employee contributions to the fund four times.
According to Business Journal, Arora makes a base salary of $1 million and has said he employs 4 million people. It hopes to raise $5 million dollars for its relief fund, including $4 million from the company and its board and another $1 million from employees.
Business Today reports Palo Alto Networks is one of a handful of companies who have made the no layoff pledge. Others include SAP, JP Morgan, Bank of America, Morgan Stanley and Salesforce.
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