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Author Topic: 2G2D in full effect. Sony feezes employee wages for a year  (Read 2188 times)

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mojovonio

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2G2D in full effect. Sony feezes employee wages for a year
« on: March 19, 2009, 08:33:04 AM »
Quote
Sony Corp has frozen its employees' salaries for a year starting in April, in an attempt to improve the company's flagging profitability.

Workers' bonuses will also be lowered to the equivalent four months pay rather than six months, according to Nikkei and reported by Reuters. Meanwhile, annual compensation for managers will be dropped by 10 to 20 per cent through wage cuts and by 35 to 40 per cent through bonus reductions.

"Executives will also be slugged with huge cuts to bonuses and salaries," Nikkei said.

Yesterday, Sony slashed its dividend payment to JPY 12.5 (13 cents) per share, compared to the previous figure of JPY 20 (20 cents).

Earlier this year, Sony announced plans to cut USD 2.8 billion costs by 2010, following estimates that it is to lose JPY 150 billion (USD 1.68 billion) for the financial year ending March 2009.

Sony Corp's stock price finished trading at USD 20.87 per share, up by 2.05 per cent or USD 0.42, from the previous close.

http://www.gamesindustry.biz/articles/sony-freezes-staff-wages

Fuck.
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Human Snorenado

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Re: 2G2D in full effect. Sony feezes employee wages for a year
« Reply #1 on: March 19, 2009, 08:36:58 AM »
YEAR OF THE PS3
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yar

Bocsius

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Re: 2G2D in full effect. Sony feezes employee wages for a year
« Reply #2 on: March 19, 2009, 09:51:05 AM »
Executive bonuses will be paid in copies of Little Big Planet.
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Purple Filth

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Re: 2G2D in full effect. Sony feezes employee wages for a year
« Reply #3 on: March 19, 2009, 10:08:22 AM »
better than losing a job i guess.
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demi

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Re: 2G2D in full effect. Sony feezes employee wages for a year
« Reply #4 on: March 19, 2009, 10:46:49 AM »
It's definitely not affecting the gaming cause... we're still working with them
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fat

Kestastrophe

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Re: 2G2D in full effect. Sony feezes employee wages for a year
« Reply #5 on: March 19, 2009, 10:48:31 AM »
My wife's wages were frozen earlier this year as well. She works in pharmaceutical research
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jon

ToxicAdam

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Re: 2G2D in full effect. Sony feezes employee wages for a year
« Reply #6 on: March 19, 2009, 11:33:02 AM »
Private Hudson seen begging for food on the street.
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T234

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Re: 2G2D in full effect. Sony feezes employee wages for a year
« Reply #7 on: March 19, 2009, 11:59:34 AM »
Kosma  :(
spoiler (click to show/hide)
Yes, I know he's on contract and then he is fucking out like Mitch Barnhart after.
[close]

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UK

demi

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Re: 2G2D in full effect. Sony feezes employee wages for a year
« Reply #8 on: March 19, 2009, 12:42:49 PM »
Quote from: demi on March 19, 2009, 10:46:49 AM
It's definitely not affecting the gaming cause... we're still working with them

UPDATE: Sony Computer Entertainment Europe has informed GamesIndustry.biz that the division currently remains unaffected by the company's pay freeze.

"SCE has adopted a payment system closely linked to the business performance of each individual employee as well as the company as a whole, and there is no plan at this time to change this payment system," explained a spokesperson.

"However, in order to stay competitive in the accelerating global network environment, we will always carefully review and make structural changes, if necessary, in order to further expand and strengthen the PlayStation business around the world."
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fat

Purple Filth

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Re: 2G2D in full effect. Sony feezes employee wages for a year
« Reply #9 on: March 19, 2009, 01:31:58 PM »
Kosma is saved then?  :lol
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ManaByte

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Re: 2G2D in full effect. Sony feezes employee wages for a year
« Reply #10 on: March 19, 2009, 03:06:34 PM »
LBP will save the wages!
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CBG

HyperZoneWasAwesome

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Re: 2G2D in full effect. Sony feezes employee wages for a year
« Reply #11 on: March 19, 2009, 04:53:40 PM »
Quote from: ManaByte on March 19, 2009, 03:06:34 PM
LBP will save the wages!
employees will be able to create their own bonuses.  Eh?  Eh?

I got nothing.
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demi

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Re: 2G2D in full effect. Sony feezes employee wages for a year
« Reply #12 on: March 19, 2009, 04:56:31 PM »
Quote from: HyperZoneWasAwesome on March 19, 2009, 04:53:40 PM
Quote from: ManaByte on March 19, 2009, 03:06:34 PM
LBP will save the wages!
employees will be able to create their own bonuses.  Eh?  Eh?

I got nothing.

It worked for AIG am i rite
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fat

Fragamemnon

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Re: 2G2D in full effect. Sony feezes employee wages for a year
« Reply #13 on: March 19, 2009, 05:39:41 PM »
Quote from: Genghis Cohen on March 19, 2009, 02:52:31 PM
This is pretty much happening everywhere.

Yeah, and the places where it isn't happening in the open it's happening behind closed doors with management and their employees.

Personally I find the recent trend of getting rid of matching 401k contributions to be much more awful. At that point the company is, quite literally, doing zero for your retirement instead of the pittance that they were before, and in doing so it actually breaks the American retirement planning model.
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hex

archie4208

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Re: 2G2D in full effect. Sony feezes employee wages for a year
« Reply #14 on: March 19, 2009, 05:48:19 PM »
2G2D sucks. :-\
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archie4208

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Re: 2G2D in full effect. Sony feezes employee wages for a year
« Reply #15 on: March 19, 2009, 09:03:52 PM »
Quote from: Green Man on March 19, 2009, 08:57:41 PM
If Sony dropped the price of the PS3, this wouldn't have happened.

Yeah, they would have had to fire people instead.
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Trent Dole

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Re: 2G2D in full effect. Sony feezes employee wages for a year
« Reply #16 on: March 19, 2009, 09:42:55 PM »
Quote from: Genghis Cohen on March 19, 2009, 02:52:31 PM
This is pretty much happening everywhere.
yeah, there's no 'incentive bonuses' this year at my workplace either. Any excuse to not pay people.  ::)
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Hi

chronovore

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Re: 2G2D in full effect. Sony feezes employee wages for a year
« Reply #17 on: March 27, 2009, 02:14:23 AM »
Quote from: dcharlie on March 19, 2009, 06:50:33 PM
the only thing that is interesting is that i believe it is actually illegal in Japan to reduce someones salary, so not sure how that would work.

Yes, you can cut bonus payments, but i don't think you can reduce their pay without also reducing hours etc.



Yeah, that's pretty much what the "bonuses" are there for, as far as I've been able to determine. "Here's your salary, by the way, here's 20% of it that's pre-defined and you will get at regular intervals, but is dependent on (a) your performance (b) the company's performance or (c) the country's condition/prevaling economic winds/ill-advised investments by the company's owner. Anything can drop that total expected salary up to 20% because it's not guaranteed salary.
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