Author Topic: Iwata Taking 50 Percent Pay Cut Over 3DS Sales  (Read 9124 times)

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Offline NWR_Josh

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Iwata Taking 50 Percent Pay Cut Over 3DS Sales
« on: July 29, 2011, 12:29:30 PM »

Poor 3DS sales means pay cuts across the board. 

http://www.nintendoworldreport.com/news/27301

Nintendo President Satoru Iwata will be taking a 50 percent pay reduction in response to poor Nintendo 3DS sales. The news was revealed at a conference in Tokyo, where Iwata stated to investors that he would be taking responsibility for the low sales figures.

Iwata was making approximately ¥137 million ($1.8 million) last year between his salary and bonuses. Specifics weren’t given, but both the base salary and bonuses are expected to be lowered.

Other directors, such as Senior Managing Directors Shigeru Miyamoto and Shinji Hatano will be taking a 30 percent pay cut and other executives’ salaries will be dropping by 20 percent.


Offline Ian Sane

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Re: Iwata Taking 50% Pay Cut Over 3DS Sales
« Reply #1 on: July 29, 2011, 12:34:02 PM »
Wow, they're not laying off the people at the bottom while giving themselves bonuses?  Don't these guys know how to run a corporation?

Offline Oblivion

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Re: Iwata Taking 50% Pay Cut Over 3DS Sales
« Reply #2 on: July 29, 2011, 12:34:36 PM »
Wow, they're not laying off the people at the bottom while giving themselves bonuses?  Don't these guys know how to run a corporation?

...

Offline BlackNMild2k1

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Re: Iwata Taking 50% Pay Cut Over 3DS Sales
« Reply #3 on: July 29, 2011, 12:43:48 PM »
GS says that Iwata's salary was 2.1mil between base and bonus last year.
http://www.gamespot.com/news/6267531/nintendo-ceos-salary-ranks-low-among-game-execs

Offline Adrock

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Re: Iwata Taking 50% Pay Cut Over 3DS Sales
« Reply #4 on: July 29, 2011, 01:00:18 PM »
Is this the modern day version of seppuku? Iwata isn't a samurai... as far as we know.

Offline TurdFurgy

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Re: Iwata Taking 50 Percent Pay Cut Over 3DS Sales
« Reply #5 on: July 29, 2011, 01:22:50 PM »
Don't they still have swimming pools filled with money left over from the Wii and DS?

Offline Ceric

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Re: Iwata Taking 50 Percent Pay Cut Over 3DS Sales
« Reply #6 on: July 29, 2011, 01:28:05 PM »
Don't they still have swimming pools filled with money left over from the Wii and DS?
Which makes this all odd.  Its like there reacting from 10 Years in the Future.
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Offline BigJim

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Re: Iwata Taking 50 Percent Pay Cut Over 3DS Sales
« Reply #7 on: July 29, 2011, 01:49:52 PM »
What makes it interesting is that the guy was making only about $2mil or so (INCLUDING bonuses), for such a huge company. Shows how much many American CEOs and executives are leeches on their corporations.
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Offline gbuell

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Re: Iwata Taking 50 Percent Pay Cut Over 3DS Sales
« Reply #8 on: July 29, 2011, 02:31:07 PM »
Yeah, that's a pretty incredibly low number for a major CEO. I wonder what Sony's CEO makes...
Why doesn't Metroid ever take off his armor?

Offline NWR_Neal

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Re: Iwata Taking 50 Percent Pay Cut Over 3DS Sales
« Reply #9 on: July 29, 2011, 02:32:12 PM »
Iwata's just doing this because everyone will respect him as the most brilliant game designer in the world when Balloon Fight is free on 3DS.
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Offline gbuell

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Re: Iwata Taking 50 Percent Pay Cut Over 3DS Sales
« Reply #10 on: July 29, 2011, 02:32:33 PM »
Oh, I forgot they got a Westerner as CEO. So he's probably making $50 mil or something.
Why doesn't Metroid ever take off his armor?

Offline GoldenPhoenix

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Re: Iwata Taking 50 Percent Pay Cut Over 3DS Sales
« Reply #11 on: July 29, 2011, 02:57:18 PM »
I don't recall Sony executives taking paycuts when the PSP and PS3 were struggling so bad, kind of shows Nintendo is a pretty unique company compared to its competitors. It will remain to be seen if this massive price cut works in 3DS's favor or if it was an additional factor in Nintendo stock plummeting and potentially further plummet. Hopefully all this does is make Nintendo be a bit more careful with future launches and improve various things people have been harping on them about, basically a reality check. I am really interested to see how this affects (if there is any) on how Wii U is handled, in both hardware (specifically power), software (especially going after 3rd parties) and how it is marketed along with its retail price.
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Offline Ian Sane

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Re: Iwata Taking 50 Percent Pay Cut Over 3DS Sales
« Reply #12 on: July 29, 2011, 03:21:46 PM »
Iwata's just doing this because everyone will respect him as the most brilliant game designer in the world when Balloon Fight is free on 3DS.

Blatantly ripping off Joust is brilliant game design? ;)

Offline Chozo Ghost

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Re: Iwata Taking 50 Percent Pay Cut Over 3DS Sales
« Reply #13 on: July 29, 2011, 03:24:44 PM »
Wow, they're not laying off the people at the bottom while giving themselves bonuses?  Don't these guys know how to run a corporation?

Now there's a reason to feel good about Nintendo again.
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Offline TJ Spyke

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Re: Iwata Taking 50 Percent Pay Cut Over 3DS Sales
« Reply #14 on: July 29, 2011, 04:22:30 PM »
Yeah, that's a pretty incredibly low number for a major CEO. I wonder what Sony's CEO makes...

Sony CEO Howard Stringer makes $4.3 million in salary and bonuses, down from the previous years $5 million (http://latimesblogs.latimes.com/entertainmentnewsbuzz/2011/06/sony-knocks-stringer-pay-by-16-percent-approves-hirai-promotion.html).
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Offline NWR_Neal

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Re: Iwata Taking 50 Percent Pay Cut Over 3DS Sales
« Reply #15 on: July 29, 2011, 04:54:37 PM »
Iwata's just doing this because everyone will respect him as the most brilliant game designer in the world when Balloon Fight is free on 3DS.

Blatantly ripping off Joust is brilliant game design? ;)

That was a joke. I always forget sarcasm doesn't translate clearly.
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Offline Mop it up

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Re: Iwata Taking 50 Percent Pay Cut Over 3DS Sales
« Reply #16 on: July 29, 2011, 05:09:09 PM »
He should give me some of that money.

Offline MegaByte

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Re: Iwata Taking 50 Percent Pay Cut Over 3DS Sales
« Reply #17 on: July 29, 2011, 05:13:20 PM »
Iwata's just doing this because everyone will respect him as the most brilliant game designer in the world when Balloon Fight is free on 3DS.
Air Fortress better be one of the free games ;)
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Offline Fatty The Hutt

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Re: Iwata Taking 50 Percent Pay Cut Over 3DS Sales
« Reply #18 on: July 29, 2011, 05:52:50 PM »
I wonder how this pay-cut idea came about? Hmmm...

(phone rings) **ring ring**

Iwata: Konichiwa. Who is calling, please?

Caller: It is I, Hiroshi Yamauchi.* Konichiwa, Iwata-San.

Iwata: Many happy greetings, Yamauchi-San. How may I serve you this day?

Yamauchi: Iwata-San, I have learned of this quarter’s losses and revised earning projections for our company. Most unfortunate.

Iwata: Most unfortunate indeed, Yamauchi-San.

Yamauchi: Stock prices have fallen sharply. Thus, I have cut in pay. Now you take cut in pay too.

Iwata: Of course, Yamauchi-San. I will announce tomorrow.

Yamauchi: Sayonara.

Iwata: Sayonara.


*Nintendo’s largest shareholder and former President

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Offline ShyGuy

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Re: Iwata Taking 50 Percent Pay Cut Over 3DS Sales
« Reply #19 on: July 29, 2011, 06:02:30 PM »
Most honorable.

Offline Shaymin

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Re: Iwata Taking 50 Percent Pay Cut Over 3DS Sales
« Reply #20 on: July 29, 2011, 08:59:03 PM »
Don't they still have swimming pools filled with money left over from the Wii and DS?
Which makes this all odd.  Its like there reacting from 10 Years in the Future.

$18bn in cash and virtually no debt. Of course, they'd like to maintain that.
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Offline Chocobo_Rider

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Re: Iwata Taking 50 Percent Pay Cut Over 3DS Sales
« Reply #21 on: July 30, 2011, 12:18:40 AM »
Every company/government on the planet should take note.

Well done, Nintendo.

Offline motang

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Re: Iwata Taking 50 Percent Pay Cut Over 3DS Sales
« Reply #22 on: July 30, 2011, 12:33:18 AM »
Repercussions of not making money.

Offline GoldenPhoenix

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Re: Iwata Taking 50 Percent Pay Cut Over 3DS Sales
« Reply #23 on: July 30, 2011, 12:45:13 AM »
Yeah, that's a pretty incredibly low number for a major CEO. I wonder what Sony's CEO makes...

Sony CEO Howard Stringer makes $4.3 million in salary and bonuses, down from the previous years $5 million (http://latimesblogs.latimes.com/entertainmentnewsbuzz/2011/06/sony-knocks-stringer-pay-by-16-percent-approves-hirai-promotion.html).

Stock options are one thing they don't mention though. It is another 5-6 million on top of that.

http://online.wsj.com/article/BT-CO-20110628-701554.html
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Offline shinyray01

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Re: Iwata Taking 50 Percent Pay Cut Over 3DS Sales
« Reply #24 on: July 30, 2011, 01:42:11 AM »
my respect for Iwata just skyrocketed!
Most CEOs would fire their employees, but this guy takes it out on himself (and other employees. heard miyamoto got a 30 percent pay cut).