![]() census, around 13% of the country identifies as black or African-American. In comparison, 2% of its technical roles are held by black employees, according to the company’s 2019 Global Impact Report. In the United States, 6% of PayPal’s total workforce identifies as black. “Those businesses aren’t going to make it if we can’t get immediate resources into their hands,” Evans told Reuters.Īccording to the statement, a further $15 million will be used to foster diversity within the company by expanding its inclusion programs. The grants of $10,000 each will be aimed at covering expenses needed to stabilize and re-open businesses, said Connie Evans, president, and CEO of the Association for Enterprise Opportunity, the organization co-managing the program. ![]() businesses hurt by the coronavirus lockdown’s effects. California-based PayPal said $10 million of the total pledged would be used for emergency grants to black-owned U.S. pledged $40 million over four years and $100 million over ten years. Goldman Sachs created a $10 million fund for racial equity. ![]() African-Americans have also suffered disproportionately from the economic impact of the COVID-19 pandemic.īank of America Corp has pledged $1 billion over four years to help communities address economic and racial inequality. corporations who have committed funds to address racial inequality in the wake of protests sparked by the May 25 death of George Floyd, a black man who died after a Minneapolis police officer knelt on his neck. “We stand with you and we support you – and we must publicly declare that Black lives matter.” “Let me be clear: I stand with our Black teammates and with the Black community, as does the entire PayPal community,” CEO Dan Schulman said in the internal memo. ![]() The funding will be invested through community banks and credit unions serving minority communities or through direct investments, the company said. electronic payments firm said, according to an internal memo and company statement. The bulk of the money – $500 million – will be devoted to creating an economic opportunity fund that will invest in black and under-represented minority businesses and communities, the U.S. NEW YORK – PayPal Holdings Inc said it was pledging $530 million to support black and minority-owned businesses in the United States and foster diversity, amid worldwide protests over racial injustice. For more information, visit PayPal logo is seen at an office building in Berlin, Germany, March 5, 2019. By leveraging technology to make financial services and commerce more convenient, affordable, and secure, the PayPal platform is empowering more than 375 million consumers and merchants in more than 200 markets to join and thrive in the global economy. PayPal has remained at the forefront of the digital payment revolution for more than 20 years. In addition, an archive of the webcast will be accessible for 90 days through the same link. A live webcast of the conference call will be available at. will host a conference call to discuss these results at 2:00 p.m. The earnings release and related materials discussing these results can be found on its investor relations website at. (NASDAQ: PYPL) today announced its fourth quarter and full year 2020 results for the period ended December 31, 2020. 3, 2021 / PRNewswire/ - PayPal Holdings, Inc.
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