Nintendo President Satoru Iwata has announced at a shareholders meeting he’ll be receiving a huge pay cut.
The amount of his salary was not shared, but his pay cut will be a staggering 50% less than it was before. Iwata made the announcement himself.
The reason why he got a pay cut was because Nintendo announced it had its first ever losing quarter last week. It’s likely Nintendo has had previous losing quarters in the past but this is the first time since the company first began releasing quarterly financial reports from 2003.
This immediately follows the previous announcement that Nintendo’s 3DS will be getting a major worldwide price cut. Sales of the device weren’t as high as Nintendo had expected.
