CEO And President Of Sony – Kaz Hirai –Take a 50 Percent Pay Cut

According to The Wall Street Journal, CEO and President of Sony – Kaz Hirai – is preparing to take a 50 percent pay cut while declining his annual bonus, also other high-level Sony executives will follow suit in a sign of solidarity with their struggling company, which will post an annual loss for the fourth time in five years. Two weeks ago Sony revealed that it expected to post a $1.27 billion loss for the 2013 fiscal year. 

Sony’s is struggling due to its PC business which it plans to spin-off and sell. Sony is also struggling to gain a profitable foothold with other initiatives, including the 4K television market and the revival of its Walkman brand as a digital music player. Sony’s PlayStation brand is considered one of the strong  focuses, and it’s performing well. The PS4 has been the best selling current gen console over the first few months. source IGN