Thursday, Oct 2, 2014Thursday, Oct 2, 2014
News
 

Sony executives give up bonuses to atone for slump in fortune

Published on May 1, 2013 4:45 PM
 

TOKYO (AFP) - Dozens of Sony executives including the firm's chief are foregoing bonuses this year in an "unprecedented" step to atone for a slump in its embattled electronics unit, a spokeswoman said Wednesday.

Chief executive Kazuo Hirai is among 40 top managers who will not get a bonus estimated at several hundred million dollars "due to severe business circumstances, including stagnant performance in the electronics sector", the spokesman said.

The leading Nikkei business daily said the payout could have totalled 1.0 billion yen (S$12.6 million).

Last year, seven top Sony executives gave up their bonuses "but the number this time is unprecedented," she added.

 
If you are not a subscriber, you can get instant, unlimited access here