Wynn Resorts top execs forego salary for remainder of 2020

As part of its strategic plan to navigate the difficult financial conditions caused by the COVID-19 pandemic, Wynn Resorts’ top executives have agreed to take a 33-100 percent salary cut for the remainder of 2020.

According to a company press release, the executives include the company’s board of directors and top executives, who will receive company shares in lieu of salary. 

Wynn Resorts said the cash savings from this scheme will be used to offset ongoing employee payroll and other expenses. 

The Company announced last week it would pay all of its employees, including their average tips, after it closed its resorts in Boston and Las Vegas to help reduce community spread of the virus.