In related news to the Nintendo 3DS upcoming price cut, certain Nintendo executives, including the main man himself Satoru Iwata, are taking pay cuts as well, according to multiple sources.
Iwata took full responsibility for the recent news that the Nintendo 3DS will take a steep $80 price drop from $249.99 to $169.99 next month. Since he feels that the poor sales of the system are his fault, he has decided to take a 50% pay cut of his base salary and bonuses. Certain other executives, including Shigeru Miyamoto and Shinji Hatano, will both take 30% cuts, and even more executives will take 20% cuts in their pay.
What is this in dollar amounts? According to Nintendo of Japan’s corporate site, Iwata made ¥137 million, or $1.8 million, in both base salary and bonuses last year. Assuming his salary stayed the same, it would be roughly half that number.
What do you guys think? I know yesterday’s big new was the price drop of the system, but what do you think about executives within the company taking the blame for poor sales and actually losing money themselves?