PS3 News: Square-Enix Directors Take Voluntary 15% Pay Cut - PS3 News

Members Login: Register | Why sign up? | Forgot Password?

Square-Enix Directors Take Voluntary 15% Pay Cut

When Squaresoft was in its prime during the PlayStation days (oh, just accept it, Nintendo fans), there was no more respected developer as far as Sony followers were concerned. These days, Square-Enix has difficulty getting on the good side of any PlayStation 3 owner, but as a citizen of the world, perhaps they'll get some respect for this...

Financial forecasts suck and stocks just keep falling; even the supposedly recession-proof video game industry is experiencing the backlash of a troubled economy. A lot of big corporations want to try to save money by cutting salaries that aren't their own, but Square-Enix is taking a more noble approach: according to Kotaku, president Yoichi Wada explained how he will take a voluntary 15% price cut, along with the other two directors of the company:

"In recognition of the latest results, we're cutting the remuneration of three executive directors by 15 percent. The three directors are myself, our Vice-President Keiji Honda, and Director and Chief Financial Officer Yosuke Matsuda. This reduction is for an indefinite period. In the meantime, we intend to stand up straight and push ahead with reforms."

Now, one could be pessimistic and say, "well, it's not like any of these guys will be in bread lines any time soon," but perhaps it's better to realize that 15% is significant when you make that much money. And besides, the gesture should be appreciated, even if those hit hard by these trying times may not be so impressed. Either way, it's something that more head honchos ought to do, and at the very least, it's a nod of recognition towards the bad economy.

3/6/2009 Ben Dutka

Put this on your webpage or blog:
Email this to a friend
Follow PSX Extreme on Twitter

Share on Twitter Share on Facebook Share on Google Share on MySpace Share on Delicious Share on Digg Share on Google Buzz Share via E-Mail Share via Tumblr Share via Posterous

Comments (16 posts)

ps92117
Friday, March 06, 2009 @ 10:22:32 PM
Reply

Well the whole entire bad market can be blamed on him so yeah, he would have to drop more money than that if he wants to make it up.

Agree with this comment 2 up, 0 down Disagree with this comment

Kevadu
Saturday, March 07, 2009 @ 3:49:36 AM

You're blaming the entire recession on Yoichi Wada? OK, seriously, how?

Agree with this comment 0 up, 2 down Disagree with this comment

ps92117
Saturday, March 07, 2009 @ 8:24:50 AM

lol I was afraid someone would say that but no sorry I worded wrong I am blaming SE situation on Wada.

Agree with this comment 1 up, 0 down Disagree with this comment

WorldEndsWithMe
Friday, March 06, 2009 @ 11:33:17 PM
Reply

In similar news, all voluntary pay cuts at SE mean nothing compared to personal takes from MS payoffs.

Agree with this comment 5 up, 0 down Disagree with this comment

BikerSaint
Friday, March 06, 2009 @ 11:33:30 PM
Reply

Good, now go funnel your newfound monies into exclusive R&D for the PS3

Agree with this comment 2 up, 0 down Disagree with this comment

Fatcat3788
Saturday, March 07, 2009 @ 1:02:14 AM
Reply

Hopefully he will actually notice how much that 15% less pay hurts him and then decide to make some "quality" products.

Agree with this comment 1 up, 0 down Disagree with this comment

SuMtOnE
Saturday, March 07, 2009 @ 1:21:31 AM
Reply

i wonder if he needs to get that cut, or he will get replace? jus wonderin

Agree with this comment 0 up, 0 down Disagree with this comment

BTNwarrior
Saturday, March 07, 2009 @ 3:06:53 AM
Reply

I would have been happier if they kept the money and kept FF13 ps3 exclusive.

Agree with this comment 2 up, 0 down Disagree with this comment

LimitedVertigo
Saturday, March 07, 2009 @ 4:27:55 AM
Reply

W00h00 the rich gets less richer, pff.

Agree with this comment 2 up, 0 down Disagree with this comment

karneli lll
Saturday, March 07, 2009 @ 7:46:11 AM
Reply

ms's check bounced,sell the company jets

Agree with this comment 3 up, 1 down Disagree with this comment

rell
Sunday, March 08, 2009 @ 8:03:53 PM

@karneli III yeah M$ check bounced lol

Agree with this comment 0 up, 0 down Disagree with this comment

BeezleDrop
Saturday, March 07, 2009 @ 12:03:10 PM
Reply

That's what they get for selling out! jk

Agree with this comment 2 up, 0 down Disagree with this comment

Orvisman
Sunday, March 08, 2009 @ 7:47:07 PM
Reply

Hmmm... Taking pay cuts and then buying Eidos. If SE is hurting enough that they have to take pay cuts, then where is the company getting the money to buy Eidos?

Agree with this comment 2 up, 0 down Disagree with this comment

rell
Sunday, March 08, 2009 @ 8:05:33 PM

Yeah coughM$cough.

Agree with this comment 0 up, 0 down Disagree with this comment

Blaiyan
Monday, March 09, 2009 @ 6:59:12 AM
Reply

%15 price cut lol. Yeah this is something our government officials should be doing.

Agree with this comment 0 up, 0 down Disagree with this comment

Orvisman
Monday, March 09, 2009 @ 9:39:39 AM

You have to love how Obama preaches fiscal responsibility to banking and automotive executives then goes out and throws a big D.C. birthday bash for that piece of crap Ted Kennedy.

Can we say hypocritical?

Come on, the economy is tanking and he throws Teddy K. a lavish birthday party with our hard-earned tax dollars. Where is the fiscal responsibily in that?

Obama is just another in a long-line of lying politicians (It's amazing how fast his hair turned gray AFTER the election!) who promises change and just does the same ol' crap every democrat before him has done, tax and spend.


Last edited by Orvisman on 3/9/2009 9:40:35 AM

Agree with this comment 0 up, 0 down Disagree with this comment

Leave a Comment

Please login or register to leave a comment.

Our Poll

What do you think about The Last Of Us: Remastered?
Fantastic! Can't wait to get it!
Good, not sure if I'll buy immediately.
Eh, not bad, but I don't care.
It's just a stupid money grab.

Previous Poll Results