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Netflix Announces $100 Million Coronavirus Relief Fund For Entertainment Workers

As the coronavirus pandemic continues to ravage the worldwide financial system, Netflix is doing its bit to help hundreds of leisure employees now out of a job. On Friday, the corporate introduced that it will set up a $100 million reduction fund to ease among the hardships confronted by jobless hourly wage earners and those that are employed on a project-to-project foundation.

Announcing the initiative in an official weblog publish, Netflix’s Chief Content Officer, Ted Sarandos, mentioned: “Most of the fund will go towards support for the hardest hit workers on our own productions around the world. We’re in the process of working out exactly what this means, production by production. This is in addition to the two weeks pay we’ve already committed to the crew and cast on productions we were forced to suspend last week”.

While the lion’s share of the funds will go to Netflix’s personal workers who have been laid off following the cancellation of the corporate’s movie and TV productions final week, the initiative will even help the broader movie and tv business, together with these from third-party manufacturing homes and studios, in spite of everything main media organizations within the nation shut down their productions due to COVID-19.

According to Netflix, $15 million of the fund will go to 3rd events and non-profits offering emergency reduction to out-of-work crew and forged in nations the place the corporate has a big manufacturing base. Apart from donating tens of millions to emergency reduction organizations working with leisure employees within the US and Canada, the corporate additionally mentioned that it’s working with current business organizations in Europe, Latin America and Asia to create related inventive neighborhood emergency reduction efforts.