Strategy Informer  

The fallout from Nintendo's projected earnings - 82% lower than expected - continues, as Nintendo is tightening its belt as the company has started to cut overhead, starting with Nintendo CEO Saturo Iwata.

Iwata announced he and other key executives are cutting their own salary. According to Kotaku, Iwata himself will dock his paycheck in half, while other Nintendo senior executives will find their pay slashed by 30%, while other Nintendo execs will be docked 20%. These pay cuts were approved by the executives themselves.

Regarding the Nintendo 3DS price cut, Iwata tellingly stated that the price cut of the device immediately was one of the lessons Nintendo learned from the Gamecube, which stubbornly remained at the same price for too long while both the PlayStation 2 and even the new Xbox consoles dominated it in sales.

Source: MCV UK