Arab Today, arab today sony executives give up performance bonuses
Last Updated : GMT 04:23:09
Arab Today, arab today
Arab Today, arab today

Sony executives give up performance bonuses

Arab Today, arab today

Arab Today, arab today Sony executives give up performance bonuses

Tokyo - AFP

Sony said Tuesday that seven senior executives, including its new chief, will not receive bonuses tied to its latest annual results, which saw the troubled firm post a record $5.8 billion loss. Former chief executive Howard Stringer and his successor Kazuo Hirai are among those who will not be paid performance-linked bonuses, but a company spokesman declined to specify the amount they had been expected to receive. However, similar bonuses paid to top executives for the previous fiscal year totalled 224 million yen ($2.8 million), he added. The bonuses are separate from a combined base salary totalling 602 million yen paid to eight top executives -- including one not slated to receive the performance bonus -- in the fiscal year through March, Sony said. The company will hold its shareholders meeting on June 27. The electronics and entertainment giant logged a record full-year loss of 456.66 billion yen in its latest business year, the fourth consecutive annual shortfall, as it struggles to stem losses at its television division. On Monday, Sony shares fell below 1,000 yen for the first time since 1980, shrinking its market value to less than a tenth of what it was just over a decade ago. Its shares climbed back above the symbolic level on Tuesday, rising 3.31 percent to 1,029 yen. In April, Sony said it would cut about 10,000 jobs and spend nearly $1.0 billion on an overhaul that its new chief executive described as \"urgent\". The announcement came after the company said the Welsh-born American Stringer would step down as its chief executive but was staying on as chairman. Japanese companies have blamed tough competition from rivals including South Korea\'s Samsung, falling prices, slow demand, the impact of severe flooding in Thailand last year, and the high yen for their struggles. The stronger yen hits Japanese exporters by making their products more expensive overseas, while eroding the value of foreign-earned profits.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today sony executives give up performance bonuses Arab Today, arab today sony executives give up performance bonuses

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today sony executives give up performance bonuses Arab Today, arab today sony executives give up performance bonuses

 



Arab Today, arab today Designer Rania Adel reveals her new collection

GMT 17:59 2017 Monday ,12 June

Designer Rania Adel reveals her new collection
Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Mai Al-Jeddawi presents décor ideas for Ramadan
View News in Arabic - Business: أخبار الشركات
Arab Today, arab today
Arab Today, arab today

GMT 09:49 2017 Tuesday ,02 May

Girl barred from Malaysia chess competition

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse

GMT 16:25 2017 Sunday ,04 June

“Suhoor” is basic meal for fasting

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons

GMT 23:13 2017 Sunday ,18 June

New ransomware virus attacking mobiles in Oman
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday