Sony CEO and Fellow Executives To Get 50 Percent Pay Cut
Prior to a full-fledged report for Sony’s fiscal year that ended on March 31, 2014, The Wall Street Journal reports that many of the Sony’s executives including the CEO himself Kazuo Hirai will not get any bonuses and receive a 50% pay-cut.
Earlier this month, Sony announced that it was bidding the PC market a farewell owning to the lack of consumer interest in physical media like Blu-ray discs and DVDs. In addition to this, the company also forecasted a revised net loss of 130 billion yen – $1.27 billion.
Back in February, Sony announced that the operating income was expected at 26 billion yen instead of previously forecasted 80 billion yen.
The company also stated that it was considering the idea of selling its PC business since the popularity of digital download services like Steam and Origin has affected physical media business badly.
A full-fledged report on the current fiscal year will become available in a couple of days, which will clear everything up.
It looks like Sony is headed on the same path as Nintendo which has slashed expected sales for Wii U along with forecasting a net loss of $240 million.
Do you think Sony is opting for good business strategies to stabilize their fluctuating business? Let us know!
Source: The Wall Street Journal