Nintendo: Iwata will take 50% pay-cut following financial report
Nintendo president Satoru Iwata has vowed to take a 50% pay-cut following Nintendo’s financial report, published this morning.
You’ll find Nintendo’s 2013 financial report through the link.
Iwata announced that he would cut his salary in half, following a 30% drop in profits across the last nine months. The lack of appetite for Wii U consoles was cited as a key financial influence.
He told reporters that the pay-cut would last five months as compensation for the poor performance, and that fellow board members would also take a cut of between 20-30%.
It’s the second time Iwata has taken a pay cut in less than two years. In 2011 he halved his salary after the slow start to the 3DS console.
7 Comments
zme-ul
but .. but ..
what about the children ?!?
YoungZer0
Good, because no one else is to blame for Nintendo’s current situation.
mistermogul
Let’s face it, his wages will still be decent even after a 50% pay cut!
mistermogul
Is it just me or are these comments broken? They don’t show up for ages and the left column goes black…?
(I’m using Chrome incase site devs need to know)
ragedave
if he had balls he would commit seppuku!
MidlifeAxe
So board members still trust him to fix things as they’re willing to take a 20-30% cut as well?
Mike W
So does his salary go back to normal after the 5 months is up?
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