Sony CEO Relinquishes Bonuses Due to Poor Financial Results - 2013-05-02 14:35:08

Sony head Kazuo Hirai is amongst the approximately 40 executive surrendering financial bonuses in the midst of poor financial results, Destructoid reports today. This means Hirai and other executives would lose between 30 and 50 per cent of their usual additional earnings.

The decision for Hirai to give up his losses comes from Sony’s electronics businesses failing to make a profit for the second year. Despite successes in achieving profit in five years, Sony’s electronics are a main concern, in which Hirai is determined to fix.

Sony has nixed 10,000 jobs and strayed from making TV sets, though this wasn’t sufficient to make a profit this year.

Notably, the PlayStation 4 is scheduled to launch this holiday; hopefully it would be Sony’s saving grace in raking in a profit for this year, and bring the company up to speed.