Top Sony Brass Pass On Bonuses After Underperformance
Posted on Wednesday, May 1 @ 14:00:00 Eastern by Daniel Bischoff
A spokeswoman for Sony has said that dozens of Sony executives will pass on bonuses this year to make up for the electronics giant's underperformance in the market. Kaz Hirai and some 40 other managers at Sony will not get their bonuses "due to severe business circumstances, including stagnant performance in the electronics sector."
This is not the first year Sony executives have forgone bonuses, but the number of individuals giving up fat stacks of cash is "unprecedented" according to a Sony spokeswoman. The company has been cutting jobs and offloading expensive assets like corporate buildings in New York City and Tokyo. Regardless, the question remains...
Who is going to make it rain at the Sony E3 press conference? I imagine Kaz and the other executives pulling wads of sweaty cash out of their pockets and suit jackets and throwing it at the crowds gathered in their E3 booth. If the leadership at Sony is willing to forego their bonuses, maybe PlayStation Plus subscribers should get a shot at the dough.
I applaud these suits for making the right choice to pull their business back into profitability, and it probably doesn't hurt that the shareholders won't be asking for anyone's head on a stake after needless bonuses. I just hope they do something fun with the $10M anyway... like swim in it.
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