Sony’s CEO Takes 16% Pay Cut
After three years of continuous losses, Sony’s CEO, Howard Stringer, is finally taking a 16% paycut in efforts to allocate that money to other parts of Sony. Okay, so 16% isn’t a lot from a $4.2 million salary, but hey, it’s something.
From the tragic earthquake that occurred in Japan, the company has lost about $3 million and continues to suffer losses after the devastating Sony hack that happened a few months ago from the LulzSec hacking group.
Not to mention the month it took for Sony to get back online. The hack proved to be a devastating blow for the company just shortly after the earthquake had struck Japan.
Sony still feels confident that it can turn a profit for the next fiscal year, although it seems to be the norm for major electronics companies to optimistically predict future profits. Personally, I do not see how the PSP Vita will save the company- especially being that the base model starts at $249 with the 3G model running on AT&T’s network.
Then again, if a CEO cannot be optimistic these days, you usually see them being fired, so who knows what’s really going on in Stringer’s mind. Post us some of your thoughts at www.facebook.com/techmento or follow us on Twitter (@techmento).