Sony executives will give up their bonuses for the second year running following an unprofitable year in its electronics business, Bloomberg reports.
Management will forgo bonuses worth 30 to 50 percent of their annual pay for the year ended in March; however, it is not known the exact amount being reduced.
According to a Sony spokesperson, roughly 40 executives will return bonuses scheduled to be paid out following a general shareholders meeting this June. The decision was proposed by Sony CEO Kaz Hirai and later backed by the Sony board.
Last week Sony revised its fiscal-year forecast, doubling its forecast for the fiscal year ending March 2013. According to the company, the revision is the result of the depreciation of yen and revenue obtained through asset sales. Sony has, however, stumbled from losses in the TV and mobile phone business.
- Polygon Daily Off-Topic: PLACE HAND HERE! (Thu 17 Apr)
- Anime, Cartoons, Comics! Plight Vol. 2, No. 8: GOLDEN CRISIS
- The best song in a video game?
- Pokémon Discussions: Springing forward
- Gamertag Hook-Ups
- Darkest Polygon: Lets start a Polygon Dark Souls 2 covenant
- Polygon Daily Off-Topic: M! (Wed 16 Apr)
- Scrolling front page - can't access bottom banner
- Post your Polygon Daily/Weekender headers here (April 2014)
- Controller Design Competition