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Iwata Will Take 50% Pay Cut as Result of Poor Fiscal Performance

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Nintendo received a heavy blow earlier this moment when it was announced that the company would experience a net loss of 35 billion yen ($336 million). However, in an attempt to soften that blow, company CEO Satoru Iwata announced that he would cut his own salary in half for five months. In addition, all other board members would receive pay cuts ranging from 20-30%.

While Nintendo stock decreased dramatically in response to the original news, it has since mostly recovered, and currently sits on $16.22. Do you think Nintendo will make a full recovery? Make some noise in the comments!

Source: RTE News

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Nikola Katardjiev
You can contact me at [email protected] Hello, my name is Nikola and I'm Gamnesia's Content Director. My job on this site involves managing all our weekly content, and ensuring that they have a timely release date, but I also contribute with the daily news grind and the occasional editorial. I've grown up with video games, but have only recently taken an active interest in writing and discussing them at a deeper level. My history with games has been very Nintendo-focused, but my tastes have changed a bit over time and I now mostly do my gaming on my PC. If you're interested in my work, you can read a small selection below: Assassin's Creed Unity And The Death of 30 FPS Games Are not Ready to be Art The Rise of PC Gaming: How Valve Conquered a Digital World How Fear of Change Set Console Gaming Back

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