What are the latest salary cuts at Sunwest?
Sunwest Pensione Pension plan employee Mike Seddon has lost his job.
Seddon was a Sunwest employee for nearly 20 years and his salary was set at $111,500 in August, but Sunwest’s annual wage bill for 2018 was $106,400.
Sunwest has also cut the pay of senior executives at its three major pension plans.
Sunrise CEO Steve Williams, CEO of Sunwest Life, and Sunwest Senior Finance and Planning Director Tom Sedden have both lost their jobs.
Sunshine Senior Finance Director Rob Wilson also lost his position, while Sunwest Chief Operating Officer Mike Ralston has been relieved of his duties.
SunWest is also reducing the salaries of its senior executives, including Chief Financial Officer John Ralsten, who has been cut $8 million.
Sun West CEO Steve Taylor, Sunwest Executive Vice President and CEO Tom Taylor, and Senior Finance Manager David Kraschow have all lost their positions.
Sunset Senior Finance manager David Schoen has also been relieved.
Sunland, which oversees all of SunWest’s pension plans, has also trimmed the pay and benefits of its executives.
Sunstream CEO Rob Gough, a former Sunwest CEO, has been reassigned to a different role, while senior executive Paul Rinde has been promoted to the role of president and chief financial officer.
Sun Stream CEO Scott Biernacki has also lost a role, as have Senior Financial Officer Andrew Johnson and Senior Business Development Manager David Hirsch.
SunStream Chief Financial Advisor Mike Buss has been demoted to senior executive, with Senior Finance Associate David Finkler being reassigned.
Sunstead Senior Finance has also reduced the compensation and benefits packages of senior management.
Sunstone Executive Vice Chairman Michael Janssen, who was Sunwest executive vice president, has now been reassigned to a new position.
Sunstone has also changed its compensation and other plans.