Sony CEO to take up to a 50 percent pay cut

Sony copying Nintendo yet again.

Posted By | On 13th, May. 2014 Under News | Follow This Author @Pramath1605


sony

After having posted their fourth loss in five years, Sony’s CEO Kaz Hirai and other executives will all be taking a pay cut to ensure the company’s funds don’t get tight- the Wall Street Journal reports that they will all be foregoing their bonuses, which in some cases amounts to a pay cut of as much as 50%. This is a similar move to the one employed by Nintendo, when its President Satoru Iwata and other executives all also took pay cuts- once, after the 3DS’s initial failure, and once earlier this year, after the Wii U’s failure to catch on in the market.

That might sound like a lot, but it’s a pittance compared to the overall losses that Sony is currently taking. It might be easy to forget that, given the insane success the PS4 has enjoyed, but Sony as a whole is still a lumbering, sinking corporation, and this year, Sony is anticipated to have lost $1.27 billion. 

Apart from these measures, Kaz Hirai has also instituted other measures to make sure Sony returns to profitability soon. Earlier this year, Sony sold off its Vaio division that makes laptops and computer hardware, and also discussed trimming down and spinning off the loss making TV division.

Whether all of these result in a positive financial outlook for Sony in the coming year remains to be seen.


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  • ME3X12

    Where are the Sony Ponies aww you hiding

    • Johnny
    • Michael Norris

      Your avatar is the perfect for all of the Xbot’s The Playstation brand is doing awesome,Sony had to get out of the Pc market place,and the Tv space is not working out for Sony.Sony will make a profit.

    • Psionicinversion

      its doing ok they cant live off it though as the money they make from it isnt amazing

    • ps4lol

      You’re evil and hateful, constantly lying and spreading FUD, you have a negative value to anywhere you go. Even system wars on gamespot had to ban you.

      You’re going to be eating mountains of crow when Sony is still around 10 years from now, not bankrupt.

      You don’t understand business, sales, or hardware specs, all you can do is fling feces and scream “XBOX WON!!1” like a rabid animal. Microsoft fanboy shills don’t love their console they just hate the success of others.

      PS4 will have the graphics advantage the entire gen. PS4 hardware and software will outsell Xbox globally the entire gen. PS4 will have more dev support and more 1st party games the entire gen. Sony still has a large number of 1st party studios and they’re all working on PS4 games. PS4 will make a net profit, and Sony won’t go bankrupt.


 

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