Sun Country defers workers pay

[Morning Dew]

http://www.twincities.com/ci_10591574?nclick_check=1



Sun Country Airlines is deferring 50 percent of its employees' wages through the end of the year, a move tied to the legal problems facing its parent company, Petters Group Worldwide.

In a letter to employees put out today, Sun Country CEO Stan Gadek said that "we must now become financially independent of our parent company." He says in the letter that he "knew this day was coming and I pushed hard to cut costs, develop new revenue sources and prepare Sun Country to stand on its own. I thought we would have more time to prepare, but it didn't work out that way."

The airline isn't asking for further employee pay cuts, he said, but it does need to defer pay, he said. The 50 percent will be calculated from employees' full pay, not their current level of reduced pay.

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So is Stan Gadek's pay being deferred as well?

[Morning Dew]

1. never mind

Channel 9 just reported that the CEO is not going to draw a salary for now.