Quantcast
Iwata to halve salary after Nintendo's poor performance - Destructoid

DestructoidJapanatorTomopopFlixist



Iwata to halve salary after Nintendo's poor performance


11:45 AM on 01.29.2014
IwataIwata to halve salary after Nintendo's poor performance photo



While Nintendo struggles financially, its higher-ups aren't content to sit back and keep collecting a paycheck. Nintendo's president Satoru Iwata told reporters today that he would cut his salary in half for five months as an atonement of sorts for the company's recent 8.1 percent dip in revenue, 30 percent decline in profits, and an operating loss of more than $15 million.

Iwata isn't the only Nintendo executive taking it on the chin. Other board members are reportedly taking a 20 to 30 percent reduction in their paychecks. When asked if it were possible that the paycut would last beyond June, Iwata responded "I will make a decision after looking at the management situation at that time."

Although Nintendo's management recognizes that something needs to change, no one should expect it to happen overnight. Nintendo predicts that it will operate at a loss for the third consecutive year. Even though software sales have increased 19 percent, the Wii U continues to struggle as its sales have dropped 36 percent compared to the same time last year, and the company adjusted its projected units shipped from 9 million to 2.8 million.

Nintendo boss to halve pay after profits dive [Agence France-Presse]
Consolidated Financial Highlights [Nintendo]






Comments not appearing? Anti-virus apps like Avast or some browser extensions can cause this.
Easy fix: Add   [*].disqus.com   to your software's white list. Tada! Happy comments time again.

Did you know? You can now get daily or weekly email notifications when humans reply to your comments.







Industry Bull

1:50 AM on 04.16.2014
Halo, Destiny composer Marty O'Donnell fired by Bungie

[Update: Bungie released a statement which reads: "For more than a decade, Marty O’Donnell filled our worlds with unforgettable sounds and soundtracks, and left an indelible mark on our fans. Today, as friends, we say g...more



5:00 AM on 04.15.2014
Capcom unveils two new R&D buildings for 'highly original games'

Capcom has announced plans to construct two new research-and-development buildings near its head office in Osaka, Japan. "Constructing these new R&D buildings will make game development operations more efficient by centr...more



10:00 AM on 04.11.2014
RollerCoaster Tycoon 4 Mobile is exactly what we feared it would be

Have we all seen those images detailing what the original Super Mario Bros. would be like if it were made today? Those were humorous when they first made the rounds. This, however -- a real game called RollerCoaster Tycoon 4...more



View all Industry Bull






Back to Top




All content is yours to recycle through our Creative Commons License permitting non-commercial sharing requiring attribution. Our communities are obsessed with videoGames, movies, anime, and toys.

Living the dream since March 16, 2006

Advertising on destructoid is available: Please contact them to learn more