Should CEOs Take a Pay Cut to Avoid Layoffs and Cutting Jobs? It’s Complicated, Experts Say
On Tuesday, Sony announced layoffs that will impact 900 jobs in its PlayStation division, or about 8% of the unit’s staff worldwide. The move follows other video game layoffs this year, such as Microsoft’s decision to let go of 2,000 people in its gaming division and Unity Software’s “company reset” which involved eliminating 25% of its workforce.
In the face of layoffs, some employees are asking why some CEOs don’t take pay cuts, similar to what former Nintendo CEO Satoru Iwata did in 2013 when he took a 50% pay decrease to avoid layoffs.