TripAdvisor CEO forgoes 2020 salary
Steve Kaufer explained the company is doing all it can to drive down costs
In a bid to lower its costs, TripAdvisor CEO and co-founder Steve Kaufer will take no salary for the rest of 2020. According to a video released by the company, Kaufer’s salary cut is one of many measures the review website is taking.
All global employees of TripAdvisor have been instructed to work from home, while the company has also been taking action to reduce expenses. Kaufer added that teams must think creativity on how TripAdvisor can support is partners across all sectors of travel amid the current crisis.
Kaufer said: “First, we’re actively encouraging governments across the globe to support public policies that help protect the travel, tourism and hospitality sectors—including businesses and workers impacted by the downturn. We are standing shoulder-to-shoulder with others in the industry and making a united case for urgent government action.”
He added: “Second, we know that travel restrictions have had a severe impact on all of your businesses. For some, local restrictions have meant that you have had to close your business entirely. We’ll be sharing more details with businesses soon, so please look out for additional and frequent communications from TripAdvisor with more details.
“When the time comes, people will dine out and travel again. When they do, TripAdvisor will be there to guide them to your door.”
Watch the full video below: