SCMP cuts executive salaries, some staff put on unpaid leave

The news media company, the South China Morning Post, owned by Alibaba Group, said it immediately will cut the salaries of 27 senior executives, including Chief Executive Gary Liu and Editor-in-Chief Tammy Tam.

All staff earning more than HK$20,000 a month have also been asked to take three weeks unpaid leave by the end of March next year.

Salaries will be frozen, except for promotions. There has also been a limited number of redundancies, the SCMP said.

While the newsroom would participate in the company’s efforts to cut operational costs, the editorial department’s headcount would remain at budgeted levels, the SCMP said.