Daily CSR
Daily CSR

Daily CSR
Daily news about corporate social responsibility, ethics and sustainability

Waiving Late Fees To Future Investment Planning


Verizon waives of late fee for negatively affected customers due to coronavirus crisis, while continuing to support them. Furthermore, Verizon also increases investment for future.

Dailycsr.com – 30 March 2020 – At a time when the world is facing a never seen before crisis imposing challenges on global health and economy, Verizon made an announcement to waive off “late fees” for sixty days which were applicable to any “residential or small business customers” due to coronavirus outbreak.
Moreover, the inability of “any residential or small business customers” in paying their bills “due to disruptions caused” by the present scenario will not stop Verizon to serve them. On March 13, 2020, the company signed the pledge of “Keep Americans Connected” by FCC. In a “new customer commitment” will provide connectivity and assistance to the small businesses and customers affected by this crisis. In the words of the Chairman as well as the chief executive officer of Verizon:
“Now more than ever, we need to ensure that our customers, their families and businesses have the ability to connect to the internet even if they’re facing financial hardship from the impact of the coronavirus pandemic. We want to ensure that our customers can continue to use the internet to work, learn, and carry on with their lives as we all address this collective challenge. We’re confident this joint effort will help make that happen.”
Verizon has also pledged to utilise its “connectivity” for helping the economic flow of the country. Furthermore, Verizon is also looking into the future beyond the crisis stage as it has planned to increase its “investment guidance from $17 to $18 billion to $17.5 to $18.5 billion in 2020”.
While, Vestberg added:
“Both of these measures are indicative of our company’s confidence that the nation and the world will emerge from this current health issue stronger than ever. I’m asking each of our business units and all of our dedicated employees to ensure we’re doing everything we can to make sure our customers stay connected. I also want our company to look beyond this period, ramp up our network investment, and build and focus on using the power of 5G to make the nation’s best and most reliable networks even better.”