In January, Microsoft mentioned it will let go of 10,000 staff.
Microsoft can be decreasing the price range for bonuses and inventory awards
Tech big Microsoft is not going to hike salaries for full-time staff this yr and is decreasing the price range for bonuses and inventory awards, in response to an Insider report on Wednesday, citing an inside electronic mail by CEO Satya Nadella.
“Last yr, we made a major funding in compensation pushed by market circumstances and firm efficiency, almost doubling our international benefit price range…this yr the financial circumstances are very totally different throughout many dimensions,” the report quoted Nadella saying.
In January, Microsoft said it would let go of 10,000 workers, adding to the tens of thousands of layoffs announced before that across the technology sector as it deals with slowing growth in a turbulent economy.
Microsoft has now squarely placed its focus on generative AI, an area the industry sees as a bright spot.
In collaboration with ChatGPT maker OpenAI, which also has received billions of dollars in funding from Microsoft, the tech giant has been infusing the AI tech into its Office products as well as the search engine Bing.
In March 2023, Microsoft conducted a third round of job cuts that impacted employees in roles related to supply chain, artificial intelligence (AI) and internet of things (IoT). According to CRN, the third wave of layoffs are part of the 10,000 job cuts announced by Microsoft earlier this year.
Job cuts were across various levels, functions, teams and geographies, the report said, quoting the company. In Washington state, the tech giant recently sacked 689 employees, according to records.
In February, Microsoft informed Washington State that 617 employees were let go. In the same month, the company notified the state of California that 108 employees were let go.
(With Inputs From Agencies)
