Sony's Struggles Continue, Top Execs To Take Pay Cuts
The company is about to post big losses, so...
According to a new Wall Street Journal report, Sony executives are prepared to take up to a 50 percent pay cut due to the company's current struggles.
The news comes shortly before Sony is expected to announce its fourth annual loss in the last five years; this loss may total 130 billion yen ($1.27 billion).
Sony's PC business is down and the company is trying to sell it, and that's contributing to the problems. Even though the PlayStation 4 leads the next-gen console race with 7 million units sold, Sony's fiscal year projection of selling 20 million PlayStation devices in the 2014 fiscal year is actually lagging behind where it was 6 years ago in terms of total hardware sales (down 45 percent).
All of this could mean that guys like CEO Kaz Hirai might be bringing home a paycheck half as big as it's supposed to be.
5/13/2014 11:01:41 AM Ben Dutka