NEW YORK, Sept. 29, 2017 /PRNewswire-HISPANIC PR WIRE/ -- Verizon Chairman & CEO Lowell McAdam today announced the company is quintupling its support for the residents of Puerto Rico and the U.S. Virgin Islands, to a total of $5 Million, as the magnitude of recovery and relief efforts has become more clear.
"We have a strong connection to Puerto Rico and the U.S. Virgin Islands through our customers and employees," McAdam said. "And while we don't offer direct service to the Caribbean, we are working with federal agencies and our roaming partners to provide additional assistance during this crisis."
The company previously announced a $1 Million pledge to fund Hurricane Maria relief efforts. Those funds are supporting immediate relief efforts of the American Red Cross and World Vision. Organizations that will receive the additional $4 Million announced will be named as the Verizon Foundation and local authorities identify organizations that can provide significant long-term recovery assistance.
Providing additional financial support to residents of Puerto Rico and the U.S. Virgin Islands, Verizon is matching employees' contributions, dollar-for-dollar, to select hurricane relief-focused organizations.
Verizon Communications Inc. (NYSE, Nasdaq: VZ), headquartered in New York City, has a diverse workforce of 163,400 and generated nearly $126 billion in 2016 revenues. Verizon operates America's most reliable wireless network and the nation's premier all-fiber network, and delivers integrated solutions to businesses worldwide. Its Oath subsidiary houses more than 50 media and technology brands that engage about 1 billion people around the world.
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