[IGN] Sony's CEO and execs are taking a 50% pay cut with no bonuses

[TopWargamer]

http://m.ign.com/articles/2014/05/13/sonys-ceo-executives-taking-50-pay-cut-losing-bonuses

Ex-PlayStation chief and current CEO and President of Sony – Kaz Hirai – is preparing to take a 50 percent pay cut while declining his annual bonus, according to The Wall Street Journal. Other unnamed high-level Sony executives will follow suit in a sign of solidarity with their struggling company, which will post an annual loss for the fourth time in five years.

I'm surprised it took them this long to do it, but it's good to see that Sony finally is. It won't fix much, but it's definitely a start, and it shows just how deep in financial debt they are. I really want Sony to pull out of this depression that they're in, because I really like them, but only time will tell at this point.

[One Who Craves Souls]

So, it has come to that eh? wow...

[Ryan Leech]

Sony NEEDS to start making money

[Khvarrioiren]

Considering in the state that the business is, it's still quite unexpected for someone like Kaz to actually go ahead and do anything that helps the cause. I borderline despise Sony as a company, but I really don't want to see them go belly-up.

[SAV1OUR]

Sony NEEDS to start making money

sony just sold a buttload of ps4s they will be fine for a few more months

[LancerBG]

now they have to get hardtop super-cars instead of the convertible versions...poor guys. 

[Imaginaerum]

sony just sold a buttload of ps4s they will be fine for a few more months

Weren't they losing money or making little money on those? I don't think any console since PS2 has helped them

[PillowSmoke]

http://m.ign.com/articles/2014/05/13/sonys-ceo-executives-taking-50-pay-cut-losing-bonuses

I'm surprised it took them this long to do it, but it's good to see that Sony finally is. It won't fix much, but it's definitely a start, and it shows just how deep in financial debt they are. I really want Sony to pull out of this depression that they're in, because I really like them, but only time will tell at this point.

 

Yea, like they really do make quality products, it's just that the buzz and people buying their stuff have gone down. Like back in the day, their tv's and possibly other things were like the apple of them all.

[Khvarrioiren]

sony just sold a buttload of ps4s they will be fine for a few more months

 

Won't help anything, the forecasted $170 million profits from the Playstation-line dwindle away when they're forecasting for a $500 million loss across the board.

[Hecknologist]

Weren't they losing money or making little money on those? I don't think any console since PS2 has helped them

Yea they were making a loss on PS4 consoles.

[SAV1OUR]

Won't help anything, the forecasted $170 million profits from the Playstation-line dwindle away when they're forecastiong for a $500 million loss across the board.

still a better outcome

[Khvarrioiren]

still a better outcome

 

Better outcome than what? They make no money nevertheless.

[Akolyte]

I may not like Sony now, but the fact is they have created allot of things that revolutionized the tech industry.  And they play a crucial part in advancing technology. 

[SAV1OUR]

Better outcome than what? They make no money nevertheless.

what im saying is the money generated from the ps4 sales is kinda reducing the total costs $100million is allot of money to save

[martinrox1568]

now they have to get hardtop super-cars instead of the convertible versions...poor guys. 

not even. . . 1/2 of a billion is still 500 million

[Askew]

Who's responsible for Sony's fall? Is it the success of the empire of South Korean tech? Is it the success of other Japanese corporations?

Or is it entirely their own doing?

I'm kinda interested...

[brownninja97]

sony just sold a buttload of ps4s they will be fine for a few more months

Remember the gaming sector doesnt make up everything with sony, they are much bigger then that and their debt is also pretty massive.

[EChondo]

sony just sold a buttload of ps4s they will be fine for a few more months

Sony isn't going to get a few more months just from PS4 sales alone.

 

At this point I think SOE and Playstation need to be split off into separate companies, I bet it's heading this direction already.

[Armorhype]

This is karma for Sony's ridiculous use of proprietary systems. I'm looking at you PSP memory sticks.

[ShiverMePenguins]

Well Sony is inbetween a rock and a hard place with their cameras. The go to for most hobbyists to professionals are canon or nikon, and Sony is reserved for the cybershot type market mostly. They make some amazing quality high end stuff but it competes with other boutique products.

And on that note I honestly believe Sony should merge most of the camera tech and great workers in that division then sell off that portion of their market, they honestly make no money and a company like panasonic stand a better chance of gaining a better foothold in those types of markets.

The Tv's they manufacture are amazing however there isn't any real viral marketing and much like dishwashers and dryers nothing new or ground-breaking has really come out so they're competing in a stagnant market at that point. The only market that is experiencing a GOOD gain is the gaming division and I honestly believe they should focus more on that than anything else.

 

Sony pictures is somewhat profitable with the new amazing spiderman movies and such, so I can see them keeping that as well as Sony/atv and Sony Music Entertainment (even though I wish SME would die in a hole for firing me unjustly).

 

 

They do need to merge the digital distribution and gaming divisions though as much of the work there goes hand in hand, doing so might lead to better integration which = larger customer base.

[Tocsin_786]

This is karma for Sony's ridiculous use of proprietary systems. I'm looking at you PSP memory sticks.

YESSSSSS, i found my old sony camera and tried to use it since it takes 4k images. buttttttt i needed a memory stick to run it and i only had a 32 mb original PSP mem. stick.

[algoat]

Won't help anything, the forecasted $170 million profits from the Playstation-line dwindle away when they're forecasting for a $500 million loss across the board.

You're being too kind. They have a projected loss of $1.3 billion.

[Tocsin_786]

is this a lie???

 

 

 

 

[algoat]

is this a lie???

Capture.JPG

This isn't a lie, but it is old. This is their results ending in March 31, 2013 where they made their first profit in years. The 2014 results will be out in 2 days and they forecasted a loss of $1.3 billion US

[Tocsin_786]

This isn't a lie, but it is old. This is their results ending in March 31, 2013 where they made their first profit in years. The 2014 results will be out in 2 days and they forecasted a loss of $1.3 billion US

hopefully its not that big of a deal, and i hope they really clean up their acts. even though they are becoming more and more like an "EA" i dont want them to go as it will put a big DENT in the technology and film industry