Nintendo CEO took 50% paycut to avoid layoff
Do any of the tech CEOs these days have the balls to take 50% paycut to avoid laying off staff? Cuz thats what Satoru Iwata did. Annual layoffs reduce morale and employees cannot produce anything valuable in a low-morale environment. They would start playing politics where B-players create toxic environment and force A-players to leave. So when financials were tough in Nintendo, CEO took a 50% paycut. And what do US tech CEOs do? Give each other high 5s, get additional bonuses for laying off workers, wallstreet pump stocks, and pretend they care about laid off workers. What a joke. Do you know any CEOs that would do what Nintendo did? Tc 160
Why RIP in the post though? Is he dead?
He died in 2015
This is even greater when you realize Japanese CEO is often paid peanuts compared to American ones
Japanese also join a company and work there for life. It's not the same as us mercenaries. We'll leave them, they'll lay us off. No hard feelings. None of us should be simping for our capitalistic overlords
they only need to do layoffs in the first place because of the CEO's bad management
Adverse market conditions don't exist?
There are many ways to improve morale. US ceos seem to prefer fear of layoff to keep people productive. And to be honest, that works.
Just hire people in India and fire in US.
CEOs have to keep shareholders happy.
May he RIP. If only tech CEOs today had the honor he did; ironic, considering that Nintendo as a company has only gotten greedier over the years similar to R*, Activision-Blizzard and EA. In the end, the over-financialization and greed of companies in the form of Amazon will reign supreme.
Didn’t Tim Apple do something similar
I mean if you take Jassy as an example he makes under $2mil in cash, and up until like a year ago it was under a million. So if he cuts it 50% he saves what like 2-4 developers? Doesn’t really do anything
That's not Andy's regular salary. His regular salary is ~200m
That is his regular salary. He got $200m in stock that vests over 10 years, but cutting that doesn’t save them any cash anyways
The bigger question is was the paycut on base pay or stocks or bonus?
I swear to god Tech needs MASSIVE layoffs given the level of entitlement and a basic misunderstanding of economics. A CEO of a major company taking a 100% cut will STILL not be enough to reduce operational costs to make the company profitable. A COMPANY NEEDS TO BE PROFITABLE TO EXIST.
That's exactly why Nintendo is gonna nuke Palworld
Palworld will be a dead game in less than a year
Palworld is so fun but it’s prob gonna die lol