Why Nintendo Doesn’t Lay Off Staff

In the current onslaught of layoffs in the technology industry, from Google to Microsoft to Amazon and dozens more, I wanted to share a very interesting perspective from just over a decade ago from the then President and CEO of Nintendo Japan, Satoru Iwata. <h1>Not Making Money? Just Cut Staff!</h1> During the company’s 73rd Annual General Meeting of Shareholders held on 27 June 2013 in Tokyo, Satoru Iwata was pressed about Nintendo’s decline in financial performance, recording operating losses in its 72nd and 73rd fiscal terms, despite having been able to turn a profit with the same sales volume (600 billion yen) back in 2000. The question went further. Iwata was asked that, if higher costs were to blame, why didn’t Nintendo take measures to reduce its overall costs through restructuring? <a href="https://medium.com/illumination/why-nintendo-doesnt-lay-off-staff-8e78cee123f6">Read More</a>