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Nintendo Budget Cuts Continue, Summer Bonuses Drop 20 Percent

Posted on June 12, 2012 AT 12:52pm

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

McKinley Noble, Contributing Editor
McKinley Noble has been writing about video games for seven years as a blogger and journalist, with each job adding to his painstakingly alphabetized collection of retro gaming memorabilia. When not cracking jokes about the gaming industry, he's a talking encyclopedia when it comes to mixed martial arts and anything MMA related. Follow him on Twitter: @KenTheGreat1. Meet the rest of the crew.

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