Sony Slugged with Pay Cuts
Tristan Oliver | March 19, 2009
Wages Frozen, Bonuses Cut
Sony is one of the larger victims of the continued economic slump, and with almost all facets of its business in a bind, including its Playstation division, Sony executives are now taking measures that will impact all employees.
According to a Reuters report that cites the Nikkei business newspaper, all employee salaries will be frozen beginning in April for one year. For managers, pay will be cut ten to twenty percent.
With all the talk of excessive bonuses on Capitol Hill right now regarding AIG, Sony will also significantly slash bonuses. Workers will see their bonus drop a third, netting only four months’ extra pay, down from six. Managers will see bonus cuts of up to 40 percent. Executives will also see major cuts in salary and bonus pay.
All of this is ahead of expectations that the company will lose $2.65 billion for the fiscal year.
Filed Under Gaming News, Global Gaming, Japan, Sony
OUCH!!! That’s gotta hurt…
HAHA! Thats what they get!
They give us a good, sturdy console, and this is what they get?
Like they say, life isn’t fair.
I hope this console isn’t the next Dreamcast. GameCube, maybe.
NO! Well Sony better not end its PS production…I hated them for making the PS2 but all that hate dissapeared with the Triple and Portable!
This further proves life isn’t fair. Sony gives us a good, sturdy coinsole, and they suffer this financial loss.
I hope they aren’t the next Dreamcast. They may be the next GameCube.
“They give us a good, sturdy console, and this is what they get?”
How quickly you forget the Sony Rootkits and Sony Exploding Batteries. Not to mention the whole PS2 “Disc Read Error” problem.
I’m not talking about the PS2. I’m talking about the PS3. Each company and their console has their flaws, but I’m saying that Sony gave us the PS3, which is the best quality home console of this generation, and yet Sony suffers financially.
Is there a way to delete one’s own comments?