HONG KONG (REUTERS) - Hong Kong's flagship English-language newspaper, the South China Morning Post, owned by Alibaba Group Holding Ltd, will cut senior management pay and ask staff to take unpaid leave for three weeks, a staff letter showed.. Read more at straitstimes.com.
HONG KONG - Hong Kong's flagship English-language newspaper, the South China Morning Post, owned by Alibaba Group Holding, will cut senior management pay and ask staff to take unpaid leave for three weeks, a staff letter showed.
Mr Liu said"limited" layoffs would take place, salaries would be frozen and he was cutting"almost everything that can be spared" on operations, from non-essential travel to the annual company party. "But even with resolve and immense audience growth, SCMP's revenues declined," he said, adding that the newspaper was heavily reliant on the recession-hit Hong Kong economy.
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