Sony executives reportedly taking a 50% cut in annual pay

0
37

Will forgo their bonuses, and that includes Kaz Hirai

The Wall Street Journal is reporting that Sony CEO Kaz Hirai, along with other executives at Sony, will be forgoing their bonuses, taking up to a 50% cut in annual pay. This news comes ahead of Sony’s fiscal year taking place tomorrow, where the company is expected to be reporting a net loss of 130 billion yen ($1.3 billion).

Sony is performing well in regards to the PlayStation 4, their new Walkman music players, and 4K TVs, but all the growth in these areas aren’t enough to fix Sony’s bottom line. Some investors believe the worst will be over soon as Sony sells off its PC business and sets up their TV business as a separate unit.

For Sony, Struggle Is Still the Bottom Line [The Wall Street Journal]