In a bid to turn that financial frown upside down, Sony Corp will put all employee wages on ice for next fiscal and slash bonuses down.
Managers annual compensation drops from "10 to 20 percent", with their bonuses put on a "35 to 40 percent" slimfast diet. Worker bonuses fall from 6 to 4 months' pay; tighten those belts boys.
"Executives will also be slugged with huge cuts to bonuses and salaries," said Nikkei, reports .
Sony is expecting to post an operating loss of 260 billion yen by March 31st, which is $2.65 billion in real money. Got a little red in your own bank balance have you, videogamer?
Sony freezes staff salaries, top execs "slugged with huge cuts" too
19 March 2009 | By Simon Priest