Today (May 17), YuMinHong, the chairman of New Oriental (09901), said on his official account "Lao Yu Xianhua" that due to the epidemic control, all ground businesses of the company were basically stopped and transferred to online as much as possible. He also asked the company to quickly reduce expenditure while trying to open up sources. YuMinHong said in the official account:
"The control of the epidemic situation has a great impact on the business of New Oriental. All ground businesses have basically stopped. Those that can be moved online can only be moved online, and those that cannot be moved online can only be refunded or delayed. A new round of pressure suddenly comes. The situation that has been basically stable after half a year's adjustment needs to be adjusted again. The reduction of income means that they can only continue to reduce expenses and further reduce human resources expenses."
In addition, Yu Minhong also said: "On Monday, I held a meeting of management cadres and asked everyone to save money quickly while trying to open up sources. Otherwise, New Oriental may be finished soon. Although I repeatedly told myself that don't worry, don't worry, the difficulties will pass, but when I think of specific things, my anxiety rises, and I often have to rely on sleeping pills to get myself to sleep. No matter how difficult it is, I have to work on my own problems Try to solve the problem and try not to make trouble for the country. "