hot  /  reviews  /  video  /  blogs  /  forum

Iwata to halve salary after Nintendo's poor performance

11:45 AM on 01.29.2014 // Brett Makedonski
  @Donski3

It's not looking better anytime soon

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]


 Reblog (or) Blog Reply



Brett Makedonski, Associate Editor
 Follow Blog + disclosure Donski3 Tips
Brett will sell you things in a dark alley -- mostly counterfeit watches and kidneys. more   |   staff directory

Get more destructoid:   We're indie-run, blogging for the love of it, and our site will always be free. Optionally, you can support us and get: (1) Faster pages from our cloud server (3) Wide(r)screen (3) No big ads on Dtoid, Japanator, Tomopop, or Flixist (4) Auto contest entries, and (5) Dibs on betas & downloads. Try it out

 Setup email comments

Unsavory comments? Please report harassment, spam, and hate speech to our moderators, and flag the user (we will ban users dishing bad karma). Can't see comments? Apps like Avast or browser extensions can cause it. You can fix it by adding *.disqus.com to your whitelists.
advertisement:




Back to Top


  Light Theme      Dark Theme
What is the meaning of life, and do you have any more pizza rolls?
You may remix all content on this site under Creative Commons with Attribution
- Living the dream, Since 2006 -