Nintendo’s CEO Satoru Iwata Reaction to Layoffs Activates Positive Feedback

In the initial weeks of 2024, the gaming industry witnessed a significant wave of job cuts, prompting social media users to resurrect quotes from the late Nintendo CEO Satoru Iwata.

Iwata, credited with the success of Nintendo DS and Wii during his tenure as the company’s president from 2002 until his passing in 2015, faced challenges with the less successful launch of the Wii U. In response to the failure, Iwata took an unconventional step for a tech CEO—opting for a 50% reduction in his pay to avert extensive layoffs, while other top executives concurrently accepted a 20% salary cut.

Iwata’s decision is being recalled amid the current job losses in the tech industry in the early months of 2024. In a statement from 2013, Iwata emphasized the importance of employee morale for sustained business success, expressing doubt that laying off staff would contribute positively to Nintendo’s long-term prospects.

These sentiments from Iwata are resonating once again on social media, with Nintendo enthusiasts applauding his stance and urging other high-ranking tech executives to emulate his example by slashing their salaries before resorting to mass layoffs.

The resurgence of Iwata’s remarks comes in the wake of Microsoft’s announcement of layoffs affecting 1,900 employees across Activision Blizzard, Xbox, and ZeniMax. Riot Games also revealed 500 job cuts this week. Notably, Activision CEO Bobby Kotick reportedly earned an average of $77,306 per hour in 2022, while Xbox head Phil Spencer boasted an annual salary of $10 million. Despite Kotick stepping down after the acquisition, Spencer has retained his position. Microsoft and Riot Games’ layoffs contribute to a total of nearly 24,000 job cuts from 85 different tech companies since the beginning of the year.

Have you read?
Report: Countries with the highest rates of Dementia, 2024.
Report: Countries with the Highest Rates of Lung Cancer, 2024.
Report: These Are The Countries with Universal Health Coverage Programs, 2024.
Revealed: These Are The Countries with the Highest Death Rates, 2024.
Revealed: The Healthiest (and Unhealthiest) Countries in the World, 2024.

This report/news/ranking/statistics has been prepared only for general guidance on matters of interest and does not constitute professional advice. You should not act upon the information contained in this publication without obtaining specific professional advice. No representation or warranty (express or implied) is given as to the accuracy or completeness of the information contained in this publication, and, to the extent permitted by law, CEOWORLD magazine does not accept or assume any liability, responsibility or duty of care for any consequences of you or anyone else acting, or refraining to act, in reliance on the information contained in this publication or for any decision based on it.

Email Address*

Name