Satoru Iwata Takes Paycut Over Nintendo 3DS

Tweet

More bad news at Nintendo. The company recently announced a huge price cut for the Nintendo 3DS, and they also slashed their financial earnings estimates for the financial markets. Now, it’s being reported that the executives who are in charge of the gaming giant all be taking substantial paycuts. All members of the executive team, including President Satoru Iwata and Senior Managing Director (and famed game designer) Shigeru Miyamoto.

Last year, Nintendo President Satoru Iwata made ¥137 million, which included both his salary and performance bonuses. That roughly comes out to $1.77 million. He’ll be getting a 50% cut in pay, while Miyamoto (whose loved among Nintendo fans) will be taking a 30%. Other Nintendo executives will be getting pay cuts between 30 and 20%. Although Miyamoto isn’t a hardware designer, he has a lot of say in the direction of the company and where they go with hardware.

Although Nintendo hasn’t publicly announced Nintendo 3DS sales, Iwata did confirm that they were weaker than expected. Gamers’ hangups with the Nintendo 3DS seems to be its high price and lack of compelling games.

Satoru Iwata started working with a subsidiary of Nintendo after graduating college in 1983. In 2000, he was named President of Nintendo, a role he has held ever since. With the good sales of Nintendo’s Wii, Iwata has appeared on many “Best CEO” or “Best President” lists around the globe from financial media outlets.

Does this mean that Nintendo’s in trouble? Do you think that Iwata deserves a paycut for the poor performance of the Nintendo 3DS in the marketplace? Are you unhappy with your 3DS? Tell us all of these things in the comment section.