Report: Nintendo Cuts Employee Summer Bonuses by Twenty Percent

Nintendo has cut employee summer bonuses by 20 percent according to a new report in the Japanese business daily Nikkei (by way of Reuters). The cuts come after Nintendo reported its first annual operating loss of 37.3 billion yen ($469.65 million) in April. The declining numbers were blamed on less demand of its Wii gaming console and a weak demand for the 3DS.

Earlier in the year Nintendo executives took pay cuts to reduce costs and the company ended up slashing the price on its 3DS, which did help spur sales growth for the system.

Source: Reuters

Thanks to Andrew Eisen for the tip.

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