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Sony Freezing, Cutting Employee Wages

Sony have, for the first time in company history, "mothballed" employee wages and bonuses in an attempt to stem the company's financial bleeding.

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uk.reuters.com
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pippoppow3437d ago

Instead of laying off people like most greedy corps do how about at least doing all that is possible to save people's jobs. Freeze, cut wages, cut hours, little to no bonuses handed out to the top. Do what yuo can so at least people keep having some money coming in. In these tough times it's nice to see a company really try to hold on to their employees instead of just discarding them if it can be at all helped. I've even heard of a story of an owner of a small business taking a pay cut to retain their small work force.

3437d ago
pwnsause3437d ago

they are still getting payed. why dont you read the article again.

Elven63437d ago

They've already had a string of layoffs like many companies affected by the economy.

This definitely a good alternative, I could name so many American business, specifically game development companies that could benefit from this. Many execs in America at least made a majority of their cash from the stock market by investing in their own companies, of course that isn't a viable option anymore.

YungXclusive2K93437d ago

Sony is doing big things this year, I can't wait for all the awesome games, they should be profiting like crazy in the playstation division this year

chaosatom3437d ago

socomnick - what are u even talking about dude?

I don't even need to explain.

3437d ago
IntelligentAj3437d ago

Well they're freezing wages at their current level and people are still getting their bonuses. Most companies aren't even giving bonuses so Nick what are you talking about?

jwatt3437d ago

Yea I work at universal and we're not getting a raise this year. It sucks but more employees get to keep thier jobs.

caladbolg7773437d ago

Cutting executive bonuses seems much better than what is happening at Microsoft Game Studios. As of March 14th, contract employees (which make up a vast majority of the MS workforce) received pay cuts upwards of 15%.

BLuKhaos3437d ago Show
3437d ago
rockleex3436d ago

Less people with money = less stuff that gets bought = less profit for businesses = more people get laid off = repeat cycle.

If no one has money to spend, then how can the government get money from taxes?

What the government needs to do is create MORE jobs for people, so those who get laid off can at least work at minimum wage. Although the government will be losing money by doing this, the end result is that the economy stops going down the drain and the government will get more money back from taxes.

frostypants3436d ago (Edited 3436d ago )

My buddy's company is doing the same thing. It allows people to keep their jobs, plus the company doesn't lose any human bandwidth to get stuff done.

Besides, a small pay cut is not so bad. The way I see it, salaries were over inflated anyway along with the rest of the economy (see: housing). I feel for those who bought overpriced homes though.

@rockleex: That's exactly what they are trying to do.

shawnsl653436d ago

hmm this explains why Sony's stock is going up. Interesting.

+ Show (12) more repliesLast reply 3436d ago
jack who3437d ago

better then firing them

Simon_Brezhnev3437d ago

im shocked u didnt have an ignorant comment

XLiveGamer3437d ago (Edited 3437d ago )

yup!

But that beast its bleeding and i don't like it.
None of us Gamers should be happy about it.

We need Nintendo, Microsoft & Sony in the industry.

That company its really important to the people of japan.

http://www.sony.net/Fun/SH/...
http://www.sony.net/Fun/SH/

swiftshot933437d ago

MS and sony need to make a profit in their games division. Sony needs to cut production costs to recoup losses on PS3 and MS needs to publish A LOT of new games to help recoup losses on the original Xbox.

BBBB3437d ago

hey it least the bigshots get pay cut to

pswi603437d ago (Edited 3437d ago )

and that media hate against Sony continues....

Meanwhile AIG steals Billions from the American taxpayer

cpt_kaos3437d ago

Other big companies can take some lessons from Sony's approach instead of the easy way out by laying off people.

Sony is more than aware that when times start getting better it will cost them money and time to employ staff and train them.

Sony obviously values there investment in there staff and would rather retain them than loose them if possible.

Good on them for having the gonads to at least try.

Commander Shepard3437d ago

You are aware that Sony have already given 16,000 people a pink slip. Are you not?

FF7numbaone3437d ago

pretty sure hes talking about this article. All you sony haters need to stop with last time arguement. His and other people's comments are about this article, which is recent.

cmrbe3437d ago

what do you want Sony to do?. Fire these people as well?. Geez think for a minute.

ElementX3437d ago

My sister got laid off today, she would've accepted lower wages. She has house and car payments and a 19 month old daughter. They can't live on her husband's wages alone.

I was going to submit this but approved it since it was already pending

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