 "Sony executives give up bonuses")
Tokyo: Seven Sony Corp. executives, including Chairman Howard Stringer and President Kazuo Hirai, are giving up their performance-based bonus pay.
The Tokyo-based electronics and entertainment company said Wednesday they were forgoing bonuses for the fiscal year through March because of the massive challenges to turn around its business.
Sony did not disclose how much money was being returned. The company paid 224 million yen ($2.8 million) in such bonuses for the fiscal year through March 2011 to eight executives.
Sony racked up its fourth straight year of red ink for the fiscal year ended March. It is projecting a return to profit this year. Sony makes the Walkman player and PlayStation 3 game machine.
Advertisement
AP
 "Sony lays 900 people off, shuts London office due to stagnating console sales, slowing gaming industry")
 "PlayStation 5 'Pro' coming soon, will come with some major hardware improvements")
 "Game over for the Gaming Industry? Console makers, publishers face slowdown after decades")
 "This Week in Explainers: Will recession in UK, Japan hit daily living?")
 "Sony lays 900 people off, shuts London office due to stagnating console sales, slowing gaming industry")
 "PlayStation 5 'Pro' coming soon, will come with some major hardware improvements")
 "Game over for the Gaming Industry? Console makers, publishers face slowdown after decades")
 "This Week in Explainers: Will recession in UK, Japan hit daily living?")