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We reported a few days ago that Nintendo are cutting the price of their 3DS portable unit. Sales have not met expectations and the reduction in price is sure to drive more sales. The latest news is that Nintendo employees will also have to face reductions in salary.
Nintendo have been facing a tough economic climate as sales of their 3DS stutter, and Bloomberg Japan (english) are claiming that the console price reduction means they are losing money with every 3DS sold.
Not only will some empl0yees have to deal with salary reductions, but Kotaku report that Satoru Iwata, the company president will be accepting the same punishment as staff, with his salary being reduced from £1.2 million to £600,000 a year. Other chiefs will accept a 30 percent reduction to reduce overall costs.
He said “For cuts in fixed salaries, I'm taking a fifty percent cut, other representative directors are taking a 30 percent cut, and other execs are taking a 20 percent cut.”
Kitguru says: Hopefully they can ride out the hard times and come back bouncing, but there are clearly problems in Mario land.
Wow, 600k a year down. thats a brave move to self inflict.
Probably forced on him with the board of directors. these guys have to accept the bad times with the good.
Might not be the board. These are Japanese we’re talking about. These guys actually feel responsible for the state of their company.
Still, even £600,000 a year is a figure most people should be able to live with. 🙂