Taiwan’s Formosa Plastics Group on Tuesday announced that it will donate NT$1 billion (US$36 million) as relief for industries and individuals affected by the COVID-19 pandemic. The company said it will give the money to the government as a special relief fund.
The company said in a news release that since 2020, the pandemic has caused a major global economic recession and the situation in Taiwan is no exception. It said many companies, especially in the service sector, had to close down or put their employees on furlough. The epidemic has affected the survival of many businesses and the livelihood of many people.
The pandemic has impacted the plastics company as well due to a plunge in crude oil prices last year. However the company forwent applying for relief funds from the government to leave the quota for those in need. Despite the difficult times, Formosa Plastics has not cut salaries, laid off workers, or forced anyone to take unpaid leave.