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Iwata Takes Pay Cut as Nintendo's Profits Plummet
Filed under: NINTENDO

Nintento's nine-month financial reports are in, and the company's profits have significantly plummeted. Reveneues dropped 8.1% from last year, and profits dropped 30%.

As a result, Satoru Iwata, president and CEO of Nintendo, has agreed to take a 50% cut in pay over the next five months. The members of the board are also taking a pay cut, from 20 to 30%.

Nintendo has planned to hold an investor meeting tomorrow to discuss fixing its current problems, as there seem to be many. It's possible that Super Smash Bros. will help them out a bit, but that's definitely not enough.

[Via]

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