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Nintendo president Satoru Iwata will be halving his salary for the next five months in response to the Wii U failing to meet sales expectations for the fiscal period ending December 31, 2013.

Other members of Nintendo’s board will be taking 20 to 30 percent cuts as well, including a 30 percent cut for legendary Nintendo producer Shigeru Miyamoto.

Nintendo originally projected nine million Wii U units to be sold worldwide last year, but only pushed 2.8 million units instead.

This isn’t the first time Iwata has punished himself like this fashion. He made a similar move two years ago after a slow start with the Nintendo 3DS, but many believe that the Wii U will need more than a price cut like the 3DS did to overcome this hurdle.

On the bright side, look at it like this: In a world where developers are folding up left and right after a single dud on the market while publishers refuse to take any of the blame, it’s nice to see the guys at the top of Nintendo holding themselves somewhat accountable.

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About Ray Carsillo

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Ray has extensive roots in geek culture, as he’s written about videogames, comics, and movies for such outlets as Newsday.com, ESPNNewYork.com, Classic Game Room on YouTube, Collider.com, and Comicvine.com before finally settling into his role as EGM’s reviews editor. His main goal in life? To become king of all geek media, of course! Find him on Twitter @RayCarsillo

Nintendo president Satoru Iwata to take 50 percent pay cut due to poor Wii U sales

By Ray Carsillo | 01/29/2014 02:22 PM PT

News

Nintendo president Satoru Iwata will be halving his salary for the next five months in response to the Wii U failing to meet sales expectations for the fiscal period ending December 31, 2013.

Other members of Nintendo’s board will be taking 20 to 30 percent cuts as well, including a 30 percent cut for legendary Nintendo producer Shigeru Miyamoto.

Nintendo originally projected nine million Wii U units to be sold worldwide last year, but only pushed 2.8 million units instead.

This isn’t the first time Iwata has punished himself like this fashion. He made a similar move two years ago after a slow start with the Nintendo 3DS, but many believe that the Wii U will need more than a price cut like the 3DS did to overcome this hurdle.

On the bright side, look at it like this: In a world where developers are folding up left and right after a single dud on the market while publishers refuse to take any of the blame, it’s nice to see the guys at the top of Nintendo holding themselves somewhat accountable.

0   POINTS
0   POINTS



About Ray Carsillo

view all posts

Ray has extensive roots in geek culture, as he’s written about videogames, comics, and movies for such outlets as Newsday.com, ESPNNewYork.com, Classic Game Room on YouTube, Collider.com, and Comicvine.com before finally settling into his role as EGM’s reviews editor. His main goal in life? To become king of all geek media, of course! Find him on Twitter @RayCarsillo