Sony executives give up bonuses for poor company performance
Samsung meanwhile has been obliterating Japanese companies in profit.
A bunch of Sony executives including CEO Kaz Hirai have given up their bonuses this year due to loss posted by the company. However, it’s not clear what type of losses they mean because the company is projected to post a profit for FY 2012.
The bonuses range from 30% to 50% of their salaries, which is pretty significant and almost up to $10 million. It’s not much to turn around Sony’s ship but it helps.
Sony’s electronic division has not made a profit this year and while the company as a whole is poised to make a profit, the electronic business means a lot to them. Their TV division hasn’t been doing too well and is the major cause for the company’s downward spiral.
Their full financials are expected on May 9. Tell us what you think in the comments section below.