Alibaba-Backed South China Morning Post Cuts Executives’ Pay
- Top executives at South China Morning Post agree to lower pay
- Some employees are asked to take three weeks of unpaid leave
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South China Morning Post, a newspaper owned by Chinese e-commerce giant Alibaba Group Holding Ltd., is cutting executives’ salaries and asking some workers to take unpaid leave as the coronavirus crisis has hurt revenue.
Chief Executive Officer Gary Liu and Editor-in-Chief Tammy Tam are among 27 senior executives who have agreed to pay reductions immediately, the company said Wednesday on its newspaper website. The publication has also asked all staff members earning more than HK$20,000 a month ($2,580) to take three weeks of unpaid leave by the end of March next year.