Sony bosses to forego bonuses

Sony's top bosses will forego their bonuses as the company prepares to report a massive annual loss tomorrow.

CEO Kaz Hirai and around 40 others will refuse to accept bonuses that amount to roughly a third of what they annually earn.

The cuts will mean $10million USD saved for Sony, but it won't make much of a dent in the $1.3billion USD loss the company is preparing to reveal tomorrow.

This will be its fourth annual loss in five years.

The PlayStation 4 continues to be the shining light for Sony, but other areas of the company, like its PC and TV businesses, are failing and will either be sold off or restructured.

Hirai was placed in charge of turning the company's fortunes around in 2012 and his long-term plans involve three main pillars: games, mobile devices and imaging technology.