Feeds

Sony bosses will return bonuses as firm preps for BILLIONS in losses

Red-splattered Japanese company battens down hatches

Build a business case: developing custom apps

Sony's top brass are set to return their bonuses as the limping Japanese company struggles with predicted billion-dollar losses.

Some 40 execs will hand back their Brucies*, which account for between 30 and 35 per cent of their total pay, on the suggestion of chief executive Kazuo Hirai.

The Japanese giant is due to unveil its results tomorrow and they are expected to be bad.

Just last week, Sony suggested it would post a whacking $1.3bn loss, blaming the shortfall on "additional expenses” due to its sale of a loss-making PC business to the investment fund Japan Industrial Partners.

Back in February, Sony confirmed it would axe 5,000 workers when it made this sale.

It also blamed the decline in demand for physical media, which probably means Blu-ray discs aren't exactly flying out of the door.

Sony said it will put a hold on development of OLED (organic-light emitting diode) tellies and focus on 4K high-def goggleboxes to get its business back on track. ®

Brucienote

Brucie Bonus. A phrase that will be familiar to any Reg reader who watched Play Your Cards Right, which featured eternal telly presenter Bruce Forsyth.

Build a business case: developing custom apps

More from The Register

next story
iPad? More like iFAD: We reveal why Apple fell into IBM's arms
But never fear fanbois, you're still lapping up iPhones, Macs
Amazon says Hachette should lower ebook prices, pay authors more
Oh yeah ... and a 30% cut for Amazon to seal the deal
Philip K Dick 'Nazi alternate reality' story to be made into TV series
Amazon Studios, Ridley Scott firm to produce The Man in the High Castle
Nintend-OH NO! Sorry, Mario – your profits are in another castle
Red-hatted mascot, red-colored logo, red-stained finance books
Sonos AXES support for Apple's iOS4 and 5
Want to use your iThing? You can't - it's too old
Joe Average isn't worth $10 a year to Mark Zuckerberg
The Social Network deflates the PC resurgence with mobile-only usage prediction
Chips are down at Broadcom: Thousands of workers laid off
Cellphone baseband device biz shuttered
Feel free to BONK on the TUBE, says Transport for London
Plus: Almost NOBODY uses pay-by-bonk on buses - Visa
Twitch rich as Google flicks $1bn hitch switch, claims snitch
Gameplay streaming biz and search king refuse to deny fresh gobble rumors
Stick a 4K in them: Super high-res TVs are DONE
4,000 pixels is niche now... Don't say we didn't warn you
prev story

Whitepapers

Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Boost IT visibility and business value
How building a great service catalog relieves pressure points and demonstrates the value of IT service management.
Why and how to choose the right cloud vendor
The benefits of cloud-based storage in your processes. Eliminate onsite, disk-based backup and archiving in favor of cloud-based data protection.
The Essential Guide to IT Transformation
ServiceNow discusses three IT transformations that can help CIO's automate IT services to transform IT and the enterprise.
Maximize storage efficiency across the enterprise
The HP StoreOnce backup solution offers highly flexible, centrally managed, and highly efficient data protection for any enterprise.