OTHER NEWS - June 17, 1992
From Times Staff and Wire Reports
Continental Plans a 7% Wage Cut: Continental Airlines Inc. will cut salaries companywide starting July 1 by an average of 7%, with higher-paid workers receiving the biggest cuts, the Houston Chronicle reported. The newspaper said the wage cuts were needed to make the company more attractive to investors considering buying into the Houston-based airline. Continental has been operating under Chapter 11 bankruptcy protection from its creditors since December, 1990. A Continental spokesman declined to comment on the story, which cited sources close to the company.
