JD.com to cut salaries of senior executives by 10-20% next year

JD.com to cut salaries of senior executives by 10-20% next year

A man stands outside JD.com’s headquarters, amid the Singles' Day shopping festival, during an organised tour in Beijing, China, November 9, 2021. REUTERS/Tingshu Wang

China’s JD.com said on Tuesday it would cut the salaries of its senior managers by 10-20% next year to help pay for an effort to convert more contractors to salaried staff and provide such workers with more insurance protection.

The e-commerce giant made the announcement in an internal letter, that was circulated online and reported by local media. A JD representative confirmed to Reuters that the letter was authentic.

Reuters

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief
Subscribe to Newsletter

You have 3 free stories remaining for the month. Register to continue reading our content