A solidarity fund for our employees most affected by the current crisis

Hager Group cares. It is paying particular attention to employees weakened by the economic & health crisis.

The ongoing economic and health crisis differs from country to country and requires special and specific local attention especially where some of our colleagues are still on short-time working. The management, with the support of the social partners via the European Works Council, has launched a solidarity fund to protect vulnerable employees most affected by the COVID-19 crisis. The fund is bolstered by the freeze on salary increases for the company's 130 top managers. The sum is supplemented by the company and the Hager family to reach a total of two million euros.

Why launch a solidarity fund?
Hager Group wants to be able to provide support to all employees who need it during these difficult times.

The fund benefits colleagues who were or are affected by site closures or short-time working. In order to slow the spread of the epidemic, measures to reduce or even halt activities at certain sites and in certain countries had to be considered. The systems of salary compensation for short-time working vary from country to country and are sometimes even non-existent.

The drop in activity may therefore lead to a precarious financial situations for some employees. For example, some Hager Group employees live in a countries where medical expenses are barely covered and a family member was hospitalised during the epidemic.

How much assistance is paid in case of loss of salary?
The amount of aid paid from the Solidarity Fund, added to any unemployment benefit paid by the State, will guarantee eligible employees a net income equal to 60% to 80% of their monthly net income throughout the period of short-time working.

From the beginning of the coronavirus situation, our top priority is to protect the health and safety of our employees. The solidarity fund allows us to support them beyond the workplace. As a group, it is important for us to care for our employees and help guarantee their wellbeing.