Sony Execs Give Up Annual Bonuses

May 2, 2013 | By | No Comments

After Sony’s main electronics business was reported as unprofitable for a second consecutive year, a spokesperson for the company has confirmed that about 40 Sony executives will be returning their bonuses this year, according to a report by Bloomberg. The bonuses were worth between 30 and 50 percent of the executives’ pay.

As a whole, Sony Corp. reported its first net profit in five years, helped in part by a weak yen and its sale of various assets, such as office properties and stock holdings, to the tune of about $2 billion. Sony did not specify how much the electronics department lost.

PlayStation 4 and Vita development will be unaffected by the move, as Bloomberg also reports that “games, cameras and mobile devices […] are central to Hirai‚Äôs plan to revive the consumer-electronics business.”

Source: Bloomberg