Lotte Hotel Executives Return 10% of Salaries Due to COVID Impact... Encourage Unpaid Leave for Employees
[Asia Economy Reporter Kim Hyo-jin] Lotte Hotel announced on the 21st that its executives have decided to return 10% of their salaries for three months in response to the impact of the novel coronavirus infection (COVID-19) spreading to the hotel industry.
Lotte Hotel also decided to encourage all employees to take unpaid leave on a weekly basis between March and April.
The unpaid leave is to be used voluntarily by employees of domestic Lotte Hotels who wish to participate.
This decision is a self-help measure prepared as difficulties in hotel operations, such as reservation cancellations, have increased due to COVID-19.
According to Lotte Hotel, from the 23rd of last month, when the COVID-19 situation intensified, until the 17th of this month, the number of room cancellations at 30 domestic and overseas hotels operated by Lotte Hotel reached 50,000.
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Previously, during the 2015 MERS (Middle East Respiratory Syndrome) outbreak, Lotte Hotel also encouraged employees to take unpaid leave, with about 30% of employees participating.
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