As the COVID-19 pandemic has decimated company balance sheets and forced layoffs to deal with the economic malaise, Mediacom Communications founder, chairman and CEO Rocco Commisso assured his more than 4,500 employees that they will keep their jobs at least through May 31, when some pundits believe the worst of the pandemic will be over.
In a letter to employees, Commisso said that he has been “amazed and inspired” by their resiliency and dedication as they continue to make sure customers stay connected. And he assured workers that although other companies have had to endure serious financial problems during the outbreak, Mediacom is stable.
Other companies, battered by the economic downturn fueled by the pandemic, have furloughed employees -- mostly those in customer-facing positions -- to cope with lost business. On Thursday, The Walt Disney Co. said it would furlough non-essential workers beginning April 19. Overall, the number of unemployment insurance claims doubled to a record 6.6 million for the week of March 28 according to the U.S. Dept. of Labor.
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“In the 25 years since I founded Mediacom, we have never resorted to laying off our employees, even during the worst economic downturns,” Commisso wrote. “We have no plans to start now as our belief has always been that if our employees take care of our customers and our communities, we will take care of them.
“I want to assure all 4,500 of our employees that Mediacom intends to continue to provide them with gainful employment, pay and benefits through at least May 31, 2020,” he continued. “By that time, we hope this pandemic will be over and our business and lives will return to normal.”
Here’s the full text of the statement:
“As our nation’s battle against the Coronavirus intensifies, I continue to be amazed and inspired by the courage and resiliency of the Mediacom Family. From our engineers, technicians and customer care representatives to our warehouse personnel, everyone is working tirelessly to keep our network running and to make sure the customers we serve stay connected.
“While this health crisis has caused serious financial problems for thousands of businesses across the United States and forced millions of Americans into the unemployment line, I want all Mediacom employees to know that our company is stable both operationally and financially.
“In the 25 years since I founded Mediacom, we have never resorted to laying off our employees, even during the worst economic downturns. We have no plans to start now as our belief has always been that if our employees take care of our customers and our communities, we will take care of them.”
“I want to assure all 4,500 of our employees that Mediacom intends to continue to provide them with gainful employment, pay and benefits through at least May 31, 2020. By that time, we hope this pandemic will be over and our business and lives will return to normal.”
