April 16—Lam Research Corporation announced earlier this month it would commit $25 million to coronavirus pandemic recovery and relief. The semiconductor manufacturing equipment company stated its charitable contribution would go to supporting hospitals, providing short-term community assistance, and funding employee relief.
Lam’s $25 Million COVID-19 Aid Contribution
In a press release, Lam explained it wants to provide medical facilities with personal protective equipment (PPE) and aid citizens by bolstering their food security and shelter resources. The manufacturer also noted it would double employee monetary contributions to eligible COVID-19 relief programs.
Furthermore, the manufacturer has launched a pay continuity and emergency fund to help its workforce get the coronavirus pandemic. Lam is also going to give all sub-director level U.S. employees $1,000 in relief funding. The firm’s international staffers will receive the globally scaled equivalent of a thousand dollar payment.
The corporation’s employee relief effort will provide assistance to 90 percent of its 10,700 workers.
“Every community around the world has been impacted by the spread of COVID-19,” said CEO Tim Archer. “The magnitude of these impacts has challenged every aspect of our lives – health care, school systems, and economies of every size. Supporting our employees and our communities is a core part of who Lam is as a company.”
Semiconductor Industry Gives Back
It is worth noting Lam is not the only semiconductor company working to aid the affected during the global health crisis.
Earlier this week, Marquardt Switches revealed it donated PPE suit hose connectors to an upstate New York hospital, which will let its doctors safely provide care for coronavirus patients. Besides, the manufacturer called on other hospitals to make contact so it can help address their supply needs.
Chipmaker Intel recently pledged to devote $50 million to COVID-19 research, patient care, and online learning. Similarly, Cisco Systems revealed it would dedicate $225 billion to fighting the coronavirus pandemic, with $8 million going to aid organizations and $210 million in products distributed to education, healthcare, and government agencies.
In addition, Samsung donated $29 million in funds and goods to communities and governments hit hardest by the pandemic. The world’s second-largest semiconductor manufacturer has also given smartphones to quarantine patients and tablets to help students affected by school closures learn remotely.
Although the COVID-19 outbreak has had a devastating impact on the world, it is inspiring to see the semiconductor industry respond to the crisis with meaningful action.