https://www.cnbc.com/2024/02/13/nintendo-ceo-once-halved-salary-to-prevent-layoffs-why-thats-uncommon.html
5 replies (most recent on top)
You're right that there's a lot of fat but it's mostly middle micromanagers who contribute nothing but reporting to upper management
What makes you think the BOD, shareholders didn't want layoffs? Layoffs needed to happen, just maybe not at this scale and method, but here was a lot of fat on the bank side
Quote from the CEO referenced in the article title:
“If we reduce the number of employees for better short-term financial results, employee morale will decrease, and I sincerely doubt employees who fear that they may be laid off will be able to develop software titles that could impress people around the world,” Iwata reportedly said at the time.
The first two replies to this thread seem to indicate that the posters prefer Schart over a CEO that would take a temporary pay cut to save jobs 🤷
The Japanese sacrifice for the good of the whole. Look at where it got them.
ok