Carlyle Co-CEO Launches Effort to Get Unemployed Virginians Back to Work

By Colin Kellaher

A top executive of private-equity firm Carlyle Group Inc. has launched an effort to help Virginia residents left jobless by the economic fallout from the coronavirus pandemic.

Glenn Youngkin, co-chief executive of Carlyle, is serving as chairman of the new public charity, dubbed the Virginia Ready Initiative, or VA Ready, which aims to retrain out-of-work Virginia residents with the skills they need for high-demand jobs and to connect them with employment opportunities.

VA Ready said 20 of the state's leading businesses, including Dominion Energy Inc., Northrop Grumman Corp. and K12 Inc., are working with the charity to help get unemployed workers back on their feet.

Nearly 875,000 Virginia residents have filed for unemployment since the outbreak of the pandemic, with lower-wage earners and minority communities hit the hardest, VA Ready said.

"Too many Virginians have lost their jobs, and they want to, and deserve help to, retool for in-demand jobs," said Mr. Youngkin, who was elevated to co-CEO at Washington-based Carlyle in late 2017.

VA Ready said it aims to retrain workers to address growing demand for specialized jobs in the fields of technology, healthcare and manufacturing/skilled trades.

Write to Colin Kellaher at colin.kellaher@wsj.com

(END) Dow Jones Newswires

June 29, 2020 13:39 ET (17:39 GMT)

Northrop Grumman (NYSE:NOC)
Historical Stock Chart
From Mar 2024 to Apr 2024