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Sony's top executives to return bonuses



(Reuters) - Sony Corp's top executives will return their annual bonuses as the company's electronics business struggles with losses, the Nikkei reported.

About 40 executives involved with the electronics and headquarters operations will give up amounts equivalent to 30-35 percent of their annual pay as proposed by Chief Executive Kazuo Hirai, the daily said.

The bonuses to be handed back could reach as much as 1 billion yen ($9.8 million), the Nikkei reported.

Sony will report on Wednesday results for the year ended March 31.

The company will also put on hold commercial development of OLED (organic-light emitting diode) television and focus on the 4K ultra high-definition LCD TVs to bring its TV business back to profitability, the daily said in a separate report.

Sony said in February it would spin off its TV operations into a separate business and sell its Vaio personal computer division as part of a broad restructuring.

($1 = 102.1150 Japanese Yen)

(Reporting by Mridhula Raghavan in Bangalore; Editing by Sriraj Kalluvila)

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Hitechceo May 13 2014 at 6:51 AM

Wall Street should take a lesson here. They've been ripping off investors for years with big bonuses and little or no performance.

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1 reply
jelun Hitechceo May 13 2014 at 8:00 AM

And yet, investors keep investing. How to explain that.

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aristocat101 May 13 2014 at 8:42 AM

This is good they should be made to give it back, its unfair to the many people who dont have money but are willing to work for it. They should do the ame int the goverment starting with Obama on down, including cutting out his expensive trips around the world that are not necessary We could save alot of money if we did this.

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2 replies
mdbass201 aristocat101 May 13 2014 at 8:57 AM

You need to look into our companies bonuses not the government. People who run business' get paid more in a month than Obama gets in a year.

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ualfriend aristocat101 May 13 2014 at 9:03 AM

why did't you complain about bush trips

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2 replies
Fisher Services ualfriend May 13 2014 at 9:11 AM

HOW DO YOU KNOW HE DIDNT? IF YOU LIKE A RACIST COMMUNIST JUST SAY SO

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Anne ualfriend May 13 2014 at 9:27 AM

Right...and his big show landing pompously on the ship after using his private jet. Bush was the biggest loser ever. He never even learned to wipe that SMIRK off his face. After 9/11, he had Osama Bin Ladens family (living in Queens) flown out of US asap. Think he had some big oil deals that were more important than the Citizens of the USA he was supposed to protect?
OBAMA GOT OSAMA!!!!!

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mdbass201 May 13 2014 at 8:55 AM

Read thus again and then think about how much the CEO's in America get . Their talking about 9.8 million dollars to fourty people and here we give that much to one person and think nothing of it. We have CEO's setting on the board of director's of large companies setting bonuses for people who happen to be setting on another board of directors setting the pay and bonus for the people on their board. Would you raise or lower the pay of the person who sets your pay and bonus. What the hell is wrong with us as a nation when we let these people screw us everyday.

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1 reply
Anne mdbass201 May 13 2014 at 9:21 AM

Members of Congress receive their salary for the rest of their lives...paid out of the Social Security system which they do not contribute to. Guess who voted on and passed that gem....CONGRESS!

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2 replies
kgm61m Anne May 13 2014 at 9:40 AM

Yes, I find it a bit nervy to talk about Teachers pensions or people living off the Government While making it your career.

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wpruitt764 Anne May 13 2014 at 10:06 AM

Anne you need to update your reference information, Members of Congress have been contributing to SS since 1984 when the Federal Employees Retirement system replaced the old Civil Service system. Also they do not get their full salary as you imply they get a percentage based on the number of years served, If they serve less than 5 years they get nothing... I am not defending them I am simply pointing out fact, When people have and use information that is not true trying to win an argument such as this its a losing game from start to finish... It allows them to simply brush aside your comments as uninformed and immaterial and then they control the discussion which is what they want....

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john smith May 13 2014 at 8:58 AM

hahahahah I feel their pain, I was told to give back my first pay raise in a decade(2 dollars on the my hourly rate) to help keep my company alive/running when 9/11 happened . only to find my raise was then given to a part time secretary who was just hired to only answer emails, as the company then sold and moved to another location just far enough away so that I (and the rest of the employees who also gave up raises)could no longer afford to work for a company I had been with for almost 20 years. i wonder who got all these guys bonuses .......?

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1 reply
Anne john smith May 13 2014 at 9:17 AM

You might want to state who you worked for so we could end any and all relationships with the company. People like that...who have made $$$ their God, only feel bad when hit in their pockets.

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avilez64 May 13 2014 at 9:06 AM

If only our government would follow their example, we could pay China off. No such luck with these crooked politicians on both parties.

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hark4109 May 13 2014 at 9:13 AM

Great move! The CEO's in the US are way overpaid and their bonuses make me sick, some get them for doing poorly!

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1 reply
deebeedonny hark4109 May 13 2014 at 9:54 AM

Certainly....That's one of the many reasons why the auto industry was to the point of bankruptcy. The CEO's literally ran wild whenever there was a republican administration that is so against reforms/restrictions/guidelines. Risky investments, poor management and those mega million dollar CEO bonuses ran the auto industry down to the ground. Wall Street literally runs wild whenever there is a republican administration, as we have seen when George was at the helm,to the point of being bailed out. As history has it, another republican President Herbert Hoover, also against reforms, stood by idly while the Wall Street manipulators used the unethical practice of "buying on speculation" that created the Stock Market Crash 1929, leading to the Great Depression. My opinion, history repeats itself. Whenever those repubs have control there will always be corporations, Wall Street, special interest groups running wild, because the repubs are so against reforms/guidelines....

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1 reply
yogi199lib deebeedonny May 13 2014 at 10:19 AM

Exactly, ask yourselves who was at the helm when GM lost 90 Billion Dollars while they kept the same CEO, and what did " He " when he retired ?

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papafain May 13 2014 at 9:42 AM

The best comment here is the remarkably small amount of these bonuses. An American exec of a losing company would be getting three times this total as a "retention" bonus. As a hard working exec, now retired, I am appalled by the greed at the top of our corporations. These same overpaid clowns are at the barricades to keep a worker from getting a $1.00 per hour raise.

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Larry May 13 2014 at 9:46 AM

It would be reassuring to see the same thing happen at any Wall Street predatory institution that mismanages its assets to incur a huge fine.

Goldman Sucks & Jippy Morgan come to mind, because all they do is to pass on the fines to their customers through higher charges. Nobody at the top goes to prison and they all get huge bonuses for their misdeeds.

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JACK May 13 2014 at 9:48 AM

PRO-RATE THE MONEY AND GIVE IT TO THE LOWER PAID EMPLOYEES !!!!

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rosa.paul May 13 2014 at 9:59 AM

Companies on US soil should follow their business model

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