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Sony’s Struggles Continue, Top Execs To Take Pay Cuts

Ben-Dutka 18 Comments

The company is about to post big losses, so…

According to a new Wall Street Journal report , Sony executives are prepared to take up to a 50 percent pay cut due to the company's current struggles.

The news comes shortly before Sony is expected to announce its fourth annual loss in the last five years; this loss may total 130 billion yen ($1.27 billion).

Sony's PC business is down and the company is trying to sell it, and that's contributing to the problems. Even though the PlayStation 4 leads the next-gen console race with 7 million units sold, Sony's fiscal year projection of selling 20 million PlayStation devices in the 2014 fiscal year is actually lagging behind where it was 6 years ago in terms of total hardware sales (down 45 percent).

All of this could mean that guys like CEO Kaz Hirai might be bringing home a paycheck half as big as it's supposed to be.

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Sony Doubles Annual Earnings Projections Due To Weaker Yen

Ben-Dutka 4 Comments

Good news for Sony and all you stockholders out there.

According to a BBC report , the electronics giant has doubled its projected earnings for the recent fiscal year ending March 2013, resulting in a doubled net profit forecast of 40 billion yen (about $403 million).

Sony cites the weakening of the Japanese yen as a major factor in the upswing, simply because this increases the company's earnings when its revenue in other currencies is converted. Since December 2012, the yen has lost about 15% of its value when compared against the US dollar. Sony also cites some asset sales as reasons for the increased prediction; there was no mention of excitement generated by the recently unveiled PlayStation 4. And of course, that's just because nobody knows if the PS4 will be a financial boon for Sony…or a drain, at least at the start.

Anyway, perhaps the future is a little brighter.

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