Sir Howard Stringer: Possibly a little poorer.
Sony has said that it is freezing staff wages for this year in an attempt to recover from its recent financial troubles.
The company will also cut bonuses from the equivalent of six months' pay (which it dished out last year) to four months' pay.
While regular workers will not see a pay rise, reports suggest that management will face cuts to their salaries. According to "sources familiar with the matter" reported by Japan Today, corporate executive officers sitting on the board, including Chairman Howard Stringer, will be up against pay cuts of up to 50%. Similarly, other board members will apparently be staring down the barrel of pay cuts of more than 30%
While that remains unconfirmed, Sony did say in January that managers' pay would drop by 10%-20%, while bonuses will be reduced by 35%-40%.
Thanks largely to the strength of the yen Sony is expected to post an operating loss of $2.9 billion for the financial year leading to March 31st.
Sources:
Japan Today
Reuters
The company will also cut bonuses from the equivalent of six months' pay (which it dished out last year) to four months' pay.
While regular workers will not see a pay rise, reports suggest that management will face cuts to their salaries. According to "sources familiar with the matter" reported by Japan Today, corporate executive officers sitting on the board, including Chairman Howard Stringer, will be up against pay cuts of up to 50%. Similarly, other board members will apparently be staring down the barrel of pay cuts of more than 30%
While that remains unconfirmed, Sony did say in January that managers' pay would drop by 10%-20%, while bonuses will be reduced by 35%-40%.
Thanks largely to the strength of the yen Sony is expected to post an operating loss of $2.9 billion for the financial year leading to March 31st.
Sources:
Japan Today
Reuters
Companies:
Sony
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Comments
Joji 19 Mar 2009 13:13
1/2
Paycuts are needed, if those PS3s aren't selling.
You have to decide, Sony. Money via decent price cut or warehouses full of unsold PS3s everywhere, that could potentially end up being buried, next to ET in the desert.
The clocks ticking. Tick tock, clock.
You have to decide, Sony. Money via decent price cut or warehouses full of unsold PS3s everywhere, that could potentially end up being buried, next to ET in the desert.
The clocks ticking. Tick tock, clock.
OptimusP 20 Mar 2009 11:22
2/2
Joji wrote:
Paycuts are needed, if those PS3s aren't selling.
You have to decide, Sony. Money via decent price cut or warehouses full of unsold PS3s everywhere, that could potentially end up being buried, next to ET in the desert.
The clocks ticking. Tick tock, clock.
You have to decide, Sony. Money via decent price cut or warehouses full of unsold PS3s everywhere, that could potentially end up being buried, next to ET in the desert.
The clocks ticking. Tick tock, clock.
Or sell the PS3's as the wiring for that gundam "statue" the Japanese are building. (no way that thing is just a statue...probably will be used for shooting down asteroids heading for earth or something down the line...or rescuiing people after earthquakes)