Nintendo President cuts his own salary in half after bad performance
Nintendo’s President Satoru Iwata announced that he will cut his salary in half after the company recorded a tumble in profits.
According to AFP, Satoru will receive half of his usual salary for the next five months, while Nintendo board members will receive a 20 to 30 percent cut in their salaries.
The Japanese gaming console titan’s revenues dipped by 8.1 percent during the last nine months of 2013 following sluggish demand for the Wii U games console amid fierce competition from Microsoft’s Xbox One console and Sony’s Playstation 4.
Source: http://business.time.com/2014/01/29/nintendo-boss-im-sorry-let-me-halve-my-salary/
Nintendo’s President Satoru Iwata announced that he will cut his salary in half after the company recorded a tumble in profits.
According to AFP, Satoru will receive half of his usual salary for the next five months, while Nintendo board members will receive a 20 to 30 percent cut in their salaries.
The Japanese gaming console titan’s revenues dipped by 8.1 percent during the last nine months of 2013 following sluggish demand for the Wii U games console amid fierce competition from Microsoft’s Xbox One console and Sony’s Playstation 4.
Source: http://business.time.com/2014/01/29/nintendo-boss-im-sorry-let-me-halve-my-salary/
