[ x ] remove ads and scale site to 1080p+
[ x ] remove the ads & get mobile premium
pay whatever you want to upgrade
 
 

Iwata to halve salary after Nintendo's poor performance

11:45 AM on 01.29.2014  ·  Brett Makedonski@Donski3
0

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]

 
 

Enlighten an uninformed cougar: FacebookTwitterRedditEmail
 

#Industry Bull #japan #Money #Nintendo #wii u
 
 
 
[x] advertisement
 
 


Brett MakedonskiSenior Editor // Profile & Disclosures
Fronts2093Posts4Blogs 4Following1Followers32

While you laughing, we're passing, passing away. So y'all go rest y'all souls, 'Cause I know I'ma meet you up at the crossroads. Y'all know y'all forever got love from them Bone Thugs baby... ... more
Trending on Destructoid:

 
 


Dtoid is fighting adblockalypse without native ad article bullsh* thanks to Huge Members. Please give them sex or donuts:

ArcticMetal117
ArcticMetal117


Since 3:19 PM on 07.03.2010

jac522
jac522


Since 3:26 AM on 02.19.2016

Andrew Ha
Andrew Ha


Since 4:12 PM on 11.23.2013

totaro
totaro


Since 7:26 PM on 09.01.2013

 

Please login (or) make a quick account (free)
to view and post comments.





Three day old threads are only visible to verified humans - this helps our small community management team stay on top of spam

Sorry for the extra step!