According to Japanese newspaper Nikkei, Sony Corporation (of which Sony Computer Entertainment is a part) has said that it is freezing staff wages across the board, in order to combat the economic crisis. The freeze will occur during the fiscal year starting April 2009. In an attempt to further cut costs, bonuses will also be cut from six months worth of pay to four months. Managers will be hit even harder, with annual compensation cut from between 10% and 20% and bonuses snipped by between 35% and 40%.The company is expected to announce a loss of $2.65 billion for the current year. Hopefully, these substantial cost reductions will allow Sony to stay in the black in FY 2009. We're sure Sony's many employees will agree that having their wages frozen isn't that bad, given the alternative.
Update: SCEE adds that its employees are unaffected by this announcement.
[Via MCV]
