Why Sony's key executives are giving up bonuses...

Dozens of Sony executives, including the firm's chief, are foregoing bonuses this year in an "unprecedented" step to atone for a slump in its embattled electronics unit, a spokeswoman said on Wednesday.

Chief executive Kazuo Hirai is among 40 top managers who will not get a bonus estimated at several hundred million yen (several million dollars) "due to severe business circumstances, including stagnant performance in the electronics sector," the spokeswoman said.

The leading Nikkei business daily said the payout could have totalled 1.0 billion yen ($10 million).

Last year, seven top Sony executives gave up their bonuses "but the number this time is unprecedented," she added.

The decision comes as the maker of PlayStation consoles eyes a profit after four years in the red. But its troubled electronics unit may remain mired in losses despite Hirai's bid to drag it back to profitability. Full story...

Related posts:

1. ILMO celebrates 100 years with $100 'thanks' to each worker...
2. Volkswagen shares $1.1billion in profits with workers...
3. Lenovo CEO distributes his $3 Million USD bonus among 10,000 employees!
4. 'World's best boss' takes 500 workers on £300,000 holiday to Majorca!!!
5. Company boss in Australia gives millions to staff! Wow...
6. You bunch of crooks! Widow, 75, speaks for millions as she stands up at...