40 Sony Execs Give Up Bonuses

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On the one hand, this is an awesome gesture that more companies should mimic. On the other hand, you don't deserve a bonus after five years of straight losses. You can't count selling billion dollar buildings as a real strategy either.

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 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.
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As much as I hate Sony, I have seen some hope for them in a number of decisions they've made recently. Instead of dumping huge quantities of money into proprietary parts, they're using more commonly available parts to bring the price of their game consoles down. I don't own anything they make because I don't care for the games they have as exclusives, but that's still a decision worth applauding for.

Now they just need to rework their other departments with cost saving measures that don't sacrifice quality and they shouldn't have much of a problem getting back on track.
 
Okay, that does it. How do I get an executive job?

An exec's job is to ensure the company is making money, right? If I don't do my job, I get fired. If they don't do theirs, they just don't get a bonus? Where can I look at CEO resumes, so I'll know what to work on?
 
I would be more impressed if they were handing the bonuses down to the employee's that actually make the company what it is to begin with.
 
I'm not sure they can get the same clout back they used to have. They've let Samsung and a few others creep in now.

That being said, on topic, I don't see why they should be "giving up" their bonuses. If they are losing money and business is bad, it would seem to be bonuses are not even merited. And I don't want to be fed the whole line like AIG did giving its execs bonuses in that at least they made it not as bad. Failing is failing is bad business. Lesser employees get let go for less much less don't get a bonus :rolleyes:.
 
Why the heck should already overpaid employees get a bonus in the first place after years and years of losses?

They love to tell the 99% of employees that are actually creating all the products and services that their healthcare costs have to go up every year and make excuses as to why there are no cost of living increases and the like even, but then justify their own crazy high wages with the business results that they take all credit for... well results are shit, so eat shit.

Don't get me wrong, there is no system on a large scale that works better than free market capitalism at the moment, but people's compensation at the extreme bottom and top of the spectrum is always so completely FUBAR in it. A general should make more than a private of course, but one hundred fold? That's the BS, and I don't know the fix.
 
This is the kind of business model that Germany adopted. Maybe that's why all of Europe's economy is going to hell in a hand basket and Germany is bailing it out. German CEO's gives their bonuses to the employee's. The more money employee's have, the happier they are and the more they spend, boosting the economy in the long run. Here in the states, it's all about me me me. It's good that they think about the welfare of others before themselves. If you think about it, how can one be happy if they know that others around them are suffering?
 
Oh, yeah? Where were all of you when these poor bastards were up all night at the Karaoke bar drunk as hell and screaming out the lyrics to Bruce Springstien songs they don't even understand?!! HUH?!? HUH?!?!
 
I wonder if this is really them "giving them up" or being forced to...
 
Corporate executives have pretty much made the word "bonus" meaningless. So many of them don't see it as a bonus, just more salary, that we're supposed to applaud them for not taking a bonus when they do poorly?
 
Super-D said:
Corporate executives have pretty much made the word "bonus" meaningless. So many of them don't see it as a bonus, just more salary, that we're supposed to applaud them for not taking a bonus when they do poorly?
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And whenever you hear about any sort of "reform" in salary whether it's executives or administrative workers at any government entity you'll get the knee jerk reaction of "Well if we don't offer competitive salaries there's no way we can get attract talent"
 
I applaud Sony execs who decided not to take the bonuses. It's one of the first steps of many in the right direction. Too bad their current products are having a difficult keeping up with low-budget outfits like Vizio and the like.
 
Absolute power corrupts absolutely. Who here wouldnt give themselves a bonus? You have to understand the culture and mindset someone born with a silver spoon in their mouth comes from. A million dollars is nothing. It's just a "bonus". Giving themselves a million dollar bonus taken from company funds is tantamount to going to the bar and buying yourself a few drinks after a bad days work. How many of you here have bought yourself a new blu ray player or some game or whatever that you might not really "deserve" when you break it down. It's all relative. I'm not saying it's right, or that they're entitled to it, but when millions of dollars is categorized as nothing more than a bonus to you, you probably have a very very different perception of the working world than others.
 
Super-D said:
Corporate executives have pretty much made the word "bonus" meaningless. So many of them don't see it as a bonus, just more salary, that we're supposed to applaud them for not taking a bonus when they do poorly?
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The fact their salaries are often miniscule compared to their bonuses says a lot. Originally, it was probably designed to award good behavior/performance, so a low base is established and a bonus brings you up. But now a days, bonuses are practically guaranteed regardless. Truthfully, it's become about as assinine a concept as congress getting to vote on their own salaries.
 
The way most executive bonuses are structured is 50% personal performance, and 50% company performance. "The company went to shit, but you did great, so here's $2mil instead of $4mil." Unless the company can prove the executive really did a poor job, they're contractually obligated to pay a bonus.
 
McFry said:
Absolute power corrupts absolutely. Who here wouldnt give themselves a bonus? You have to understand the culture and mindset someone born with a silver spoon in their mouth comes from. A million dollars is nothing. It's just a "bonus". Giving themselves a million dollar bonus taken from company funds is tantamount to going to the bar and buying yourself a few drinks after a bad days work. How many of you here have bought yourself a new blu ray player or some game or whatever that you might not really "deserve" when you break it down. It's all relative. I'm not saying it's right, or that they're entitled to it, but when millions of dollars is categorized as nothing more than a bonus to you, you probably have a very very different perception of the working world than others.
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Marie Antoinette had a very different perception of the working world, too.
 
TeeJayHoward said:
Okay, that does it. How do I get an executive job?
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Get an MBA from a Tier 1 school. The jobs will come to you.
An exec's job is to ensure the company is making money, right?
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Yeah. But it is also about growing the company.
If I don't do my job, I get fired. If they don't do theirs, they just don't get a bonus?
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Ron Johnson got fired from JC Penney - so its certainly possible to get fired as an exec.
 
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