Categories: News

Sony executives take pay cuts after fourth annual loss

Executives at Sony have responded to a fourth year of losses by taking pay cuts and returning their annual bonuses.

The company has requested that shareholders determine a new Board of Directors, which will include recently promoted president and CEO Kaz Hirai.

Back in April, Hirai stepped up as CEO and cut 10,000 jobs — roughly 6% of Sony's global workforce. The parent company also closed down former Seattle-based developer Zipper Interactive less than a month prior to the announcement.

Follow @wita on Twitter for tales of superheroes, plumbers in overalls, and literary adventures.

[Edge via MCV]

Stephanie Carmichael

Twitter: @wita

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Stephanie Carmichael
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