The Gulf Time Newspaper One of the finest business newspapers in the UAE brought to you by our professional writers and editors.
Bloomberg
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.
CEO Gary Liu and Editor-in-Chief Tammy Tam are among 27 senior executives who have agreed to pay reductions immediately, the company said on its newspaper website. The publication has also asked all staff members earning more than $2,580 a month to take three weeks of unpaid leave by the end of March next year.
The economic slump and advertising cuts caused by the pandemic are pushing some journalists around the world to the sidelines during one of the biggest stories of their
careers.
While the crisis is driving record readership at websites, it has crippled advertisers — and the publishers who count on their spending.