In these uncertain times, we want all members of our staff to be focused on taking care of their families and delivering for our clients, not on whether they will have a paycheck next month. While we can’t be sure how the impact of this pandemic will play out long-term, at this time we are committing that there will not be any reduction in staff at MUFG Investor Services in 2020 due to COVID-19.
Furthermore, there will be no cuts to employee benefits, as we want all our colleagues to know that we have their backs, especially during these uncertain times. In fact, we are pleased to be able to share that we have expanded employee benefits for parental leave and community volunteering in all regions, and are expanding maternity leave pay for our staff in Canada and private medical insurance coverage for our staff in the UK. Additionally, as a response to the adjustments our staff have had to make in light of the pandemic, each employee will receive compensation each month to cover incidental work from home expenses and we expanded our Sick Pay Policy for employees impacted by COVID-19.
We are confident in our ability to emerge from this global crisis by working together and showing our clients just what we are made of. Just in these past few weeks, our staff have continued to exceed expectation and demonstrate their unwavering commitment to MUFG and to our clients. It is only right that we show the same commitment to each and every one of our colleagues.