Activision Blizzard announced today via there Investor Relations program that they will be joining a White House's Joining Forces initiative that seeks to increase veteran employment in the technology sector.
As stated by Activition Blizzard:
At a ceremony hosted this morning by First Lady Michele Obama and Dr. Jill Biden in the White House, Activision Blizzard joined over 50 other US-based technology companies who altogether pledged more than 100,000 in hiring commitments for veterans and military spouses over the next five years.
Activision Blizzard (Nasdaq: ATVI) seeks to expand the Call of Duty Endowment's Commitment to Ending Veteran Unemployment. It is interesting to note that they were the only interactive entertainment company to join the Joining Forces initiative which is said to complement the work of Activision Blizzard's own foundation, The Call of Duty Endowment. The Endowment focuses on securing "[...]high-quality jobs for veterans and raises awareness about America's significant veteran unemployment problem," which is a noble endeavor considering that 1 in 16 veterans face unemployment and more still end up working in less the desirable, low paying jobs.
Over the past year, organizations supported by the Endowment saw a 15% increase in requests from veterans for support," said Bobby Kotick, Chief Executive Officer of Activision Blizzard and Co-Founder of the Call of Duty Endowment. "Activision Blizzard and the Endowment have helped more than 22,000 vets get good jobs, but there is much more to be done.
Working with the public and private sector, Joining Forces, which was established in 2011, has trained or hired over 1.2 million veterans and spouses. Dan Goldenberg, Executive Director of the Call of Duty Endowment stated:
By supporting the Joining Forces initiative, we hope the combined efforts of the White House and companies like ours can solve the ongoing problem of veteran unemployment. If we accomplish this task, we will improve the lives of those who served and their families for generations to come.
The Endowment which set a goal of 25,000 veteran career placements by 2018, awarded $5.6 million in grants to previous Seal of Distinction recipients this year, donating over $21 million since it's inception in 2009. To date, they have placed more than 22,000 veterans in high quality jobs with an average starting pay of $50,000, at an efficiency rate of $600 per job.
Last year Activision Blizzard participated in partnerships with Sony PlayStation, Microsoft Xbox, GameStop, Costco, BestBuy, CKE and others to support getting veterans back to work. Activision Blizzard completely covers the organization's overhead costs, so every dollar the Endowment raises goes directly to funding veteran employment programs.