Report: Sony Executives Take Pay Cuts

A Bloomberg report reveals that Sony Chief Executive Officer Kazuo Hirai's salary will be reduced, along with salaries and bonuses of several company directors. According to the report, Sony paid 799 million yen ($10 million) in salaries to 21 executives and directors in the fiscal year that year ended in March.

Sony said in a statement that seven of its corporate executive officers returned their bonuses for the year ending March 31. Sony also told shareholders that it would seek their approval for a new board consisting of 14 members, at its June 27 meeting, with Hirai becoming one of those new board members.

The changes are part of an overall plan to cut costs as the company goes through one of the leanest times in its long history.

Source: IGN by way of Andrew Eisen.

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