For the second year in a row, top executives at Sony have agreed to return their annual bonuses -- which add up to around 20-30% of the their salaries. Proposed by Sony's CEO, Kazuo Hirai, and then agreed upon by the board of directors, the decision will continue a tradition started last year by then CEO Howard Stringer.
The decision comes despite Sony posting its first annual profit in more than five years, according to recently released information. That's because Sony's electronics operation still remains unprofitable and much of the profit is due to one-time gains from asset sales. Kaz promised when he became CEO to make the electronics business profitable again, starting with 10,000 layoffs, but I'm unsure whether he's followed up on that.
Nevertheless, it's interesting to think about how Sony's current woes and their shift in leadership might be affecting the company going into the launch of the PlayStation 4 later this year. Hopefully, no matter what the electronics side of the company is up to, the PlayStation side of Sony stays focused on the task at hand. Judging from the PlayStation 4 announcement earlier this year, they're headed in the right direction.