Time's Up is championed by writer Shonda Rhimes and actresses including Natalie Portman, Ashley Judd, Emma Stone, Meryl Streep, America Ferrera, Kerry Washington and Reese Witherspoon, includes a legal defence fund to help working-class women who may not have the financial resources to defend themselves against misconduct.
A group of powerful women in Hollywood have launched an action plan to fight systemic sexual harassment in their industry and across all workplaces worldwide.
The women said they are hoping to widen the attention being paid to Hollywood's scourge of sexual harassment and discrimination into a cultural shift.
The money raised will be used to fund legal support for both female and male victims of sexual harassment at work.
In October, the New York Times published a shocking expose about Weinstein and his three decades of predatory behavior in Hollywood.
"We remain committed to holding our own workplaces accountable, pushing for swift and effective change to make the entertainment industry a safe and equitable place for everyone", the letter reads.
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Yet another goal is for major Hollywood studios and talent agencies to reach gender parity - "time's up on this impenetrable monopoly", the letter reads.
'We're finally hearing each other, and seeing each other, and now locking arms in solidarity with each other, and in solidarity for every woman who doesn't feel seen, to be finally heard'.
The fund will be housed at and administered by the National Women's Law Center, a women's rights legal organization, and managed by Christina M. Tchen, former Chief of Staff to Michelle Obama.
Shonda Rhimes-a leading member of the effort and executive producer of several television series, including "Grey's Anatomy" and "How to Get Away With Murder"-says a key component of the effort was making sure that women in those more vulnerable situations and without the name recognition of famous actresses or directors were made central to the effort. It's time to do something about it", the group's website declares".