Today's Hard|Forum Post
Today's Hard|Forum Post

Thursday May 02, 2013

40 Sony Execs Give Up Bonuses

On the one hand, this is an awesome gesture that more companies should mimic. On the other hand, you don't deserve a bonus after five years of straight losses. You can't count selling billion dollar buildings as a real strategy either.

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 yen (several million dollars) "due to severe business circumstances, including stagnant performance in the electronics sector", the spokeswoman said.