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.

Seven executives have given up their performance linked pay: AP

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.

AP


Updated Date: Dec 20, 2014 09:00 AM

Also Watch

Watch: Firstpost test rides the new Thunderbird 500X in Goa and walks you through the Royal Enfield Garage Cafe
  • Tuesday, April 17, 2018 Varun Dhawan on Shoojit Sircar's October, 5-star reviews and working with Anushka Sharma in Sui Dhaaga
  • Saturday, April 14, 2018 Ambedkar Jayanti: Re-visiting Babasaheb's ideals exposes fake Dalit politics of Rahul Gandhi and Congress
  • Monday, April 9, 2018 48 hours with Huawei P20 Pro: Triple camera offering is set to redefine smartphone imaging
  • Monday, April 16, 2018 Rajyavardhan Singh Rathore interview: Sports can't be anyone's fiefdom, we need an ecosystem to nurture raw talent