The collective salary reduction of the third management of Xinhua: a voluntary reduction of 20% above level 17 will be implemented on December 1.

Thanks to CTOnews.com netizen Karamazov for the clue delivery! According to the news on the morning of November 24, Sina Science and Technology learned that Yu Yingtao, president and CEO of Xinhua third Group, announced yesterday that the management of the company had a collective pay cut, and that cadres and employees at and above personal rank 17 (including) would take the initiative to reduce their salary by 20%. Cadres and employees at 16 levels and cadres at 15 levels will voluntarily reduce their salaries by 10%, starting from December 1, 2023 to December 31, 2024. The company will decide whether to terminate or extend ahead of time according to the operation.

Yu Yingtao said, "the management of the company is confident that, together with colleagues, by continuously focusing on the core business and constantly optimizing operational efficiency, we can better seize market opportunities, accumulate momentum for development, and return the company's performance to the track of rapid growth as soon as possible."

At present, Xinhua three insiders have confirmed the matter to Sina Technology, the relevant sources said, "this round of salary reduction is mainly limited to members of level 15 or above, ordinary employees have not yet received notice."