Sony Executives Take Pay Cuts, Return Bonuses
Posted by Sammy Barker
Trying times
While the PlayStation business is doing reasonably well for Sony, the Japanese giant is not in great shape overall. New CEO Kaz Hirai has promised to return the company to profitability over the next 12 months, but on the back of four straight losses, the executive has been forced to take a pay cut.
The cut will affect the aforementioned Hirai and the company’s board of directors. Sony expanded in a statement that seven executives had also returned their bonuses after the corporation’s recent poor financial results.
[via bloomberg.com]
#1
KALofKRYPTON said:
Note to the West (Private companies, Government, Banks), this is how to do business!
#2
XCWarrior said:
Nice to see both Nintendo and Sony execs take pay cuts when the company isn't doing well. American companies would learn well from this example.