More fiscal austerity for Sony (SNE), which recently slashed its dividend 15%. The company today announced its freezing salaries for its employees.
Reuters: Unlike many Japanese companies, Sony does not automatically raise salaries each year based on seniority. Instead pay rises are set annually for each worker based on their role and performance.
“This time we decided to keep the workers’ salaries unchanged,” Sony spokeswoman Mami Imada said, ahead of the pay round for the financial year starting next month.
The cuts aren’t everywhere though — it seems some Sony Europe employees aren’t affected. We sent a note to Sony asking about Sony USA employees and will update when we hear more.
UPDATE: Sony responds, and America’s employees are exempt from the pay freeze too.
SCE has adopted a payment system closely linked to the business performance
of each individual employee as well as the company as a whole, and there is
no plan at this time to change this payment system. We have no immediate
plan to cut the payment to employees. Having said that though, in order to
stay competitive in the accelerating global network environment, we will
always carefully review and make structural changes (including payment
cut), if necessary, in order to further expand and strengthen the
PlayStation business around the world
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