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Nintendo is still making cuts and pay reductions across the board, as the company has been doing ever since reporting financial setbacks and investor losses in 2010. Most recently, Nintendo has cut their employees’ summer bonus money by 20 percent due to “weak business performance.”

Ever since posting record profit and revenue losses in 2010 as a result of slow hardware sales, Nintendo has scaled back on a number of payroll perks and benefits for its staff. Various sales disappointments like the Wii Vitality Sensor and the Nintendo 3DS haven’t turned the tide either, as 2011 just saw another 29-percent revenue dip and 66-percent profit loss for Nintendo in that fiscal year.

Possibly the most high-profile of all Nintendo’s cost-cutting measures has been president Satoru Iwata’s 50-percent pay cut, taken from his his usual $1.7 million salary. (Most other Nintendo execs reportedly took a smaller 20-to-30-percent salary cut.)

Nintendo didn’t impress everyone at E3 2012 either, showcasing a limited amount of solid titles for the Wii U and failing to announce a release date or price for the console. We even had to give them an E3 2012 “award” for biggest letdown, despite the effort from the Wii U’s third-party partners, like Ubisoft.

Source: Yahoo/Reuters

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Nintendo Budget Cuts Continue, Summer Bonuses Drop 20 Percent

By EGM Staff | 06/12/2012 02:52 PM PT

News

Nintendo is still making cuts and pay reductions across the board, as the company has been doing ever since reporting financial setbacks and investor losses in 2010. Most recently, Nintendo has cut their employees’ summer bonus money by 20 percent due to “weak business performance.”

Ever since posting record profit and revenue losses in 2010 as a result of slow hardware sales, Nintendo has scaled back on a number of payroll perks and benefits for its staff. Various sales disappointments like the Wii Vitality Sensor and the Nintendo 3DS haven’t turned the tide either, as 2011 just saw another 29-percent revenue dip and 66-percent profit loss for Nintendo in that fiscal year.

Possibly the most high-profile of all Nintendo’s cost-cutting measures has been president Satoru Iwata’s 50-percent pay cut, taken from his his usual $1.7 million salary. (Most other Nintendo execs reportedly took a smaller 20-to-30-percent salary cut.)

Nintendo didn’t impress everyone at E3 2012 either, showcasing a limited amount of solid titles for the Wii U and failing to announce a release date or price for the console. We even had to give them an E3 2012 “award” for biggest letdown, despite the effort from the Wii U’s third-party partners, like Ubisoft.

Source: Yahoo/Reuters

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