Nintendo CEO once halved his salary to prevent layoffs, and it worked—why that's so uncommon today
Publishing timestamp: 2024-02-13 09:45:33
Summary
The article discusses the decision of former Nintendo CEO Satoru Iwata to take a pay cut to avoid layoffs and how this strategy worked for Nintendo. It also explores the cultural aspect of Iwata's decision and the potential risks and limitations of implementing similar strategies in other companies. The article mentions other companies facing layoffs, such as Riot Games and Citigroup, and highlights the importance of trust and accountability in leadership.
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Keywords: personnel, leadership, layoffs, nintendo co ltd, labor economy,