Travel and Tourism Sectors Give Big Bonuses Despite COVID-Driven Bankruptcy

The travel, tourism, and hospitality sectors have been hugely affected by the COVID-19 pandemic. But even as major providers of these services succumbed to bankruptcy, several have given their CEOs bonuses, often while laying off lower-level employees.

Cruise lines have shut down, and nationwide lockdowns squelched the need for flights, rental cars, and hotels. Restaurants, bars, and wineries have closed or been forced to serve outside, greatly reducing the demand for supplies. Entertainment venues and theme parks have also closed due to health concerns.

Some CEOs have taken pay cuts to ensure employees will still receive their pay and benefits. But in many cases, travel and tourism executives have received bonuses on top of handsome salaries.

This fourth article in the Corporate...

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