03.18.2009 02:55 PM
Sony Freezes Wages for a Year

TOKYO: Sony said today it would freeze salaries for a year starting in April, according to Nikkei. Bonuses are being reduced, and managers will see a pay cut of between 10 and 20 percent.

Sony also said today it would reduce its upcoming dividend. Instead of roughly 50 cents for the full fiscal year ending March 31, Sony will pay around 43 cents a share, the company said. The 4Q dividend has been slashed from around 20 cents to less than 13 cents. Shares of Sony rose around 2 percent on the news, from around $20.25 to $20.75.

The dividend has to be approved by the board in May for a June pay-out.

In early January, Sony said it expected to post its first operating loss in 14 years in the range of $2.9 billion. A loss posted in 1995 resulted from a one-time charge.

Last month, the company affected a reorg that placed Sir Howard Stringer in charge and restructured divisions to promote device interoperability. 

Post New Comment
If you are already a member, or would like to receive email alerts as new comments are
made, please login or register.

Enter the code shown above:

(Note: If you cannot read the numbers in the above
image, reload the page to generate a new one.)

No Comments Found

Thursday 11:07 AM
The Best Deconstruction of a 4K Shoot You'll Ever Read
With higher resolutions and larger HD screens, wide shots using very wide lenses can be a problem because they allow viewers to see that infinity doesn’t quite resolve into perfect sharpness.

Featured Articles
Exhibitions & Events
Discover TV Technology