Sony Bosses Forfeit Bonuses Ahead of Billion Dollar Loss
Posted by Sammy Barker
Hip hip Hirai
There’ll be no wad in the back pocket of Sony gaffer Kaz Hirai this week, as the ex-PlayStation president – along with 40 of the organisation’s top executives – will forfeit their bonuses ahead of this week’s expected billion dollar loss. It’s believed that many of the senior employees will sacrifice a third of their annual salary, while some may give up on up to 50 per cent of their yearly wage. This move will apparently save the company $10 million in total.
While that sounds like a lot, it’s nothing compared to the $1.3 billion loss that the firm’s set to confirm during its earnings call tomorrow. Worryingly, the Japanese giant had expected to make a profit this year, but the sale of its Vaio computer business hasn’t quite gone to plan, forcing it to a fourth annual loss in five years. By soaking up the negative numbers this time around, the organisation hopes to have a better run at profitability next year.
And there are at least positive signs. For starters, the PlayStation 4 is selling incredibly well, while its television division is in the process of being separated. Since being appointed to the big office, the Ridge Racer aficionado has successfully trimmed a lot of the company’s excess fat, selling off unnecessary stocks, buildings, and factories in order to give the firm a fighting chance in the future. The board will no doubt be expecting results soon, though.
Kaz Hirai’s long-term strategy speech will be pivotal later this month, then, in which he’s set to outline his vision for the company. Previously, the veteran employee had cited gaming, imaging technology, and mobile as the future of the business, and with those areas performing well, it’s unlikely that that focus will change. Regardless, we’re just hoping that some good GIFs of the affable executive sneak their way out of the presentation.