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Sony Executives Taking Massive Paycuts
Filed under: SONY

Sony is having a bit of struggle as of late. To help cut down on their expected losses, several Sony executives, including CEO Kaz Hirai, have agreed to take a substantial pay cut. Some of them are agreeing to cut as much as 50%. The cuts will help recover around $10 million, but that won't help too much against their $1.3 billion expected losses.

The Wall Street Journal believes that Sony is at their lowest point and will only go up from here. Sony's problems have stemmed from selling off its computer business and reconfiguring their TV division. If all goes as they plan, they should have far better success in this next fiscal year.

Their PlayStation division is doing quite well, but it's still 45% behind their projected 20 million units sold for the fiscal year.

[Source]





2 post(s)
Reader Comments
Feral May 14 2014, 10:59 am EDT
Poor Sony executives.

I hope you all are still able to support your families and keep a roof over your heads.

Sincerely,
the 99%
  Reikhardt: Jealous dick comment.
Feral: Yes. Very. In fact, they could take 99% of thei…
RenegadeCZ: Would you? Don't be so quick to judge other people.
Cheddar: His point is objectively valid, sarcasm aside.
araczynski May 15 2014, 04:40 am EDT
Still, a much more noble gesture than the typical "fire 20% of the staff so I can keep my 2mil bonus", like every US CEO does.
  Cheddar: This. I can't sympathize with mega-millionaires ta…
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