Trip.Com CEO, Chair Slash Salaries to Zero; Other Execs Take Voluntary Cut
Liao Shumin
DATE:  Mar 09 2020
/ SOURCE:  yicai
Trip.Com CEO, Chair Slash Salaries to Zero; Other Execs Take Voluntary Cut Trip.Com CEO, Chair Slash Salaries to Zero; Other Execs Take Voluntary Cut

(Yicai Global) March 9 -- Jane Sun and James Liang, chief executive and chairman of China's largest online travel agency Trip.Com Group, have stopped receiving a salary this month as the novel coronavirus outbreak weighs on performance, and other top executives will be taking a voluntary pay cut.

Other company executives will volunteer to reduce their salary by as much as half until the sector is back to normal, online news portal SinaTech reported today, citing an internal circular shared by Sun. The Shanghai-based firm will also put a halt on employee pay rises.

"Tourism contributes over 10 percent to global gross domestic product and is one of the sectors most severely affected by Covid-19," Liang said at an online press briefing on March 5, without disclosing how much of an impact the disease has had on Trip.Com. Losses caused by the virus may continue to widen, he added.

Trip.Com debuted its 2020 Travel Revival the same day, rolling out pre-sales of products aimed at booking trips in advance. The program involves tens of thousands of hotels, more than 1,000 possible journeys, over 100 flights and tickets to 300 tourist attractions.

Consumers can buy the packages with discounts of between 20 and 60 percent as the travel giant looks to secure orders ahead of time and helped pay its dues to suppliers.

Editor: James Boynton

Follow Yicai Global on
Keywords:   Trip.Com,Jane Sun,James Liang,voluntary pay cut