IKEA’s Ingka Group is to support employees who are struggling in their finances by launching a 10 million USD social fund in all Ingka’s thirty one markets.
The money would not be a loan and each staff’s application for the fund would be assessed on a case-by-case basis how much they may receive.
“Each Ingka Group country will give support to co-workers who may need ‘one-off’ financial assistance to, for example, pay electricity bills or for housing costs,” it said in a statement on Thursday, November 10.
In addition, the company would also double staff discounts to 30% in its store-in-store food markets and on more than 2,000 energy-saving products such as water saving taps, light bulbs, bedspreads, and appliances, reported Rappler.
According to the energy crisis and rising inflation, these issues have led many people to struggle in coping with higher living costs.
“This extra support is meant to support co-workers faced with unforeseen costs they couldn’t possibly have planned for,” said a group spokesperson.