A Sony spokeswoman informed Bloomberg today that the electronics corporation’s board of directors decided to back a proposal from CEO Kazuo Hirai in which around 40 Sony Corporation executives – including himself – will voluntarily forgo their bonuses this year. The bonuses are said to be between 30% and 50% of their total salaries and, according to The Raw Story (via Nikkei), will save Sony around $10 million.
When Hirai became CEO last year, he pledged to slim down the company and turn their fortunes around. Hirai also is expanding on his initiative from last year, when he and his predecessor Howard Stringer did not receive their bonuses.
Sony will reveal its 2013 fiscal year results on May 9th. In its most recent forecast, Sony’s earlier estimates were revised downward, but still noted a profit. Which, if it follows through, will be the company’s first annual profit in five years.