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Nintendo cutting summer bonuses by 20% - report

Employees hit following weak business performance last fiscal year

Nintendo will reportedly cut workers' summer bonuses by 20 percent following its weak business performance last fiscal year.

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The company has also reduced executive compensations from last year, according to Japanese business paper Nikkei (via Reuters).

The platform holder posted its first ever annual loss for the year ended March 31, 2012. The 3DS and Wii maker reported a net loss of 37.3 billion yen (£284.2 million), while sales fell 36.2 percent year-on-year to 648 billion yen (£4.9b).

Last July, Nintendo CEO Satoru Iwata announced that he was to take a 50 percent pay cut after claiming that the blame for poor early 3DS sales lay at his door.

"For cuts in fixed salaries, I'm taking a 50 percent cut, other representative directors are taking a 30 percent cut, and other execs are taking a 20 percent cut," he said.

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