40 Sony Execs, Including Hirai, Sacrifice Their Annual Bonus
You don't see this every day.
According to a Sony spokeswoman, dozens of Sony executives have opted to pass on their yearly bonuses. This includes boss Kaz Hirai.
Hirai and 39 other top managers will not get a bonus this year, and that will save the company "several hundred million yen." In fact, a Nikkei estimate says the payout could've hit 1 billion yen (about $10 million). The move was apparently prompted by "severe business circumstances, including stagnant performance in the electronics sector." Last year, 7 Sony bosses gave up their bonuses; to have 40 do it this year is "unprecedented."
Interestingly, this comes just before Sony is expected to announce a profit for the first time in four years. Despite the upswing that has seen Sony double their fiscal earnings projections, the corporation could still be mired in losses. The company has instituted a corporate overhaul that has resulted in thousands of job cuts and the unloading of assets.
Now, I don't know anything about business but I'm wondering if Microsoft executives would do the same if MS was ever in the same position...
5/1/2013 9:21:22 PM Ben Dutka