Cinemark CEO Mark Zoradi and the theater chain's board of directors are forgoing their entire salaries for the time being amid the coronavirus epidemic, while mandating deep pay reductions for all U.S.
corporate employees, the company said Monday. Like Zoradi, other top executives working for the country's third-largest theater circuit are voluntarily taking steep pay cuts while maintaining full workloads in order to support the company in this time of crisis, Zoradi wrote in an email to staff.
Among the rank and file, employees will work reduced hours and make no more than 50 percent of their salary. At the same time, they will maintain full benefits.