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Nintendo president, Satora Iwata, takes 50% pay cut

Nintendo president accepts 50% pay cut
By: Anthony Garreffa | Business, Financial & Legal News | Posted: Aug 1, 2011 2:30 am

Nintendo have been having a hard time with their Nintendo 3DS portable gaming console, it hasn't been selling well and is not seeing the sales they were expecting. Last week they dropped the price of the 3DS to drive more sales and the latest news on top of all of this is that Nintendo employees will also face some form of salary reduction.

 

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It's not just employees either, Satora Iwata, Nintendo's President will be accepting the same punishment as staff with his salary being reduced from £1.2 million to £600,000 a year. Other chiefs will take a 30-percent reduction to reduce overall costs. He said:

 

For cuts in fixed salaries, I'm taking a fifty percent cut, other representative directors are taking a 30 percent cut, and other execs are taking a 20 percent cut.

NEWS SOURCES:Kitguru.net

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