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Yintai Retails and Yintai Tourism volunteer pay cuts in response to COVID-19 challenges
Release Date:February 11,2020
Release Media:1390

The fight against COVID-19 is still on-going at this time. Since the outbreak, Yintai Group has implemented the requisite government epidemic prevention and control measures, and safeguarded the health and safety of all employees and customers. It has taken a number of measures including suspending business operations, postponing the resumption of work, taking the initiative to waive the rentals of commercial tenants during the period of business suspension, and actively participating in donating supplies, sparing no effort in combating the coronavirus, and winning support and praise from life.

There is no denying, however, that COVID-19 has adversely affected the dining, retail, tourism and other consumption related industries, and the enterprises in many regions face operating difficulties in terms of funding and cost. The relevant businesses under Yintai Group were no exception, and were significantly affected.

Yintai Retails and Yintai Tourism have recently expressed that they are willing to share the woes, and meet the industry challenges together. In particular, Yintai Retails released a written proposal, “Let love flourish and overcome hardships”, calling all staff to unite as one, enhance learning and innovation, take the initiative to implement cost management and increase operating efficiency, as well as develop “customer-oriented” service value. It also announced that all senior management at executive assistant grade and higher have volunteered to take a 50% pay cut. Yintai Tourism’s senior management have also said that they would work without pay when working from home, and proposed that department heads and project heads receive 70% of pay when working from home until they return to their respective posts.

Given this unprecedented market challenge, both Yintai Retails and Yintai Tourism have taken the initiative to adopt measures and voice their support, indicating their firm intent to weather the hard times with Yintai Group. We believe that as long as the Group works together, it will be able to overcome the market challenges brought about by this epidemic.

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