Even in tight economic times for most in the tech sector, some firms are restructuring and increasing their philanthropic efforts.
Global colo provider Equinix has set aside $50 million for a foundation to support digital inclusion efforts around the world. Previously, the company was spending about $1 million a year out of its operating expenses to support employee activism and donations and in direct grants to individual organizations.
Now, the company will spend $2.5 million a year, or 5% of the foundation’s total assets, said Bruce Owen, the company’s vice president for employee and community impact.
“The foundation is a way for us to scale on the philanthropic side,” he told Data Center Knowledge.
Equinix is also working on environmental sustainability efforts but those will continue to be funded out of operating expenses.