Shigeru Miyamoto is also getting his salary reduced

Jan 29, 2014 13:42 GMT  ·  By

Video game publisher and hardware maker Nintendo announces that its leadership will take significant pay cuts for the period from February to June as a reaction to the worse than expected financial results that it will probably post in March.

Satoru Iwata, the president of the company, is cutting his own compensation by 50 percent, while the representative directors will get a cut of 30%, according to NeoGAF.

All other members of the board will see a 20 percent reduction in their own pay for the months until June, when the leadership will re-evaluate the situation and decide whether it will maintain the cut.

Nintendo has recently announced that it is now expecting to sell just 2.8 million Wii U units before the end of the fiscal year, down from 9 million.

There are also declines associated with the 3DS and the company is expecting to lose a record amount of money.