For decades Sony had a policy where senior executives, once "retired" from the company, would be given a position as "advisor." Advisor status meant a salary often larger than what they were making while an employee, a personal assistant, sometimes a car with a driver. These were the most expensive employees in the company and in "retiring" they didn't work but continued to cost the company the highest wages in the firm.
Sony recently cancelled this system- something they should have done a decade ago. The stock jumped 3%.
It is a small but important step. It's important for investors to show that there is change, even incremental, afoot. It's important for employees, who resented this system that they saw as a drain on the resources. But most importantly it is a step, albeit a small one, towards a new Sony.
Sony is burdened with huge ranks of old men. Old men who do not understand the current marketplace, let alone the future.
Getting these 45 "advisors" out of the company is a good first step. It is only one step, however, towards a revitalized Sony.
MSN Money - Reuters Business News: Nikkei rises helped by economic data; Sony shines
In the technology sector, Sony rose 2.9 percent to 5,630 yen after the electronics and entertainment conglomerate said on Wednesday it is scrapping 45 adviser positions as part of restructuring, leading to the departure of well-known names in its old guard.
Gen chan, hisasiburi !
Yes, it is good to "see" that they are making a step forward....