Petco Invests $2 Million in New Partner Assistance Fund to Support Employees in Need

Petco launched an employee relief fund to provide ongoing support to Petco’s 27,000+ partners as they face the effects of COVID-19 as well as future hardship in other times of need. The new Petco Partner Assistance Fund launched with an initial $2 million investment from Petco, plus additional donations from the company’s private equity sponsors at CVC Capital Partners, and personal donations from every member of its Board of Directors and executive leadership team including CEO Ron Coughlin.

“Now more than ever, our Petco partners are plating an invaluable role in helping to provide vital products and services for pets and families across the US and beyond,” said Coughlin. “This is our way of lending a collective helping hand when they may need it most. Whether its no, related to the unprecedented and still undetermined effects of COVID-19, or other times of need they face, this fund is intended to provide necessary support to the partners who fuel Petco’s work to improve the lives of pets, pet parents and our own people every day.”

The Petco Partner Relief Fund will be administered E4E Relief and is open for donations today. Partners will be able to apply for support beginning later this week. All donations will go directly to support Petco Partners in need. The fund will provide financial assistance to those who are experiencing financial hardship resulting from an emergency, hardship or qualified disaster, specifically:

•   Active Petco Partners
•   Their spouses/domestic partners
•   Dependents
•   Other household members

Financial assistance will be issued based on application review and funds available to support basic needs for Petco partners including evacuation or quarantine expenses, housing, utilities, transportation, childcare, insurance deductibles, household contents, medical or funeral expenses and necessary counseling.

The new fund is in addition to other measures Petco has taken to support partners related to COVID-19 including temporarily waiving its standard attendance policy and introducing a new paid “COVID leave” policy for those directly impacted. For more information on the Petco Partner Assistance Fund or to make a donation, click here.