Weeks after Microsoft layoffs caused resentment; the Satya Nadella-led tech giant is reportedly not planning to give any salary hike(s) this year. As per a report, Microsoft Corp is reducing its budget for bonuses and stock awards this year.
Satya Nadella-led Microsoft Corp is reportedly reducing its budget for bonuses and stock awards this year
Weeks after Microsoft layoffs caused resentment; the Satya Nadella-led tech giant is reportedly not planning to give any salary hike(s) this year. As per a report, Microsoft Corp is reducing its budget for bonuses and stock awards this year.
According to a report in Insider, Microsoft CEO Satya Nadella, in an internal email mentioned about the same. It read, “Last year, we made a significant investment in compensation driven by market conditions and company performance, nearly doubling our global merit budget...this year the economic conditions are very different across many dimensions.”
While the company has not officially confirmed the ‘no salary hike’ news, several employees have expressed their anger on social media. One of them wrote, “Welp, Microsoft isn’t doing salary increases for non-hourly workers. Time to start acting my wage and saying “no thanks” to extra projects.”
In January, Microsoft announced its plans to trim 10,000 jobs. This came in line with the mass layoffs in the tech sector, leaving thousands without jobs during a global economic downturn.
However, similar to Google, the Satya Nadella-led Microsoft is also slowly shifting its focus towards artificial intelligence (AI). Hence, while many tech giants have laid off employees in several divisions, they have also hired people for roles that are more focussed at tech and AI.
Some time back, Microsoft also announced its collaboration with OpenAI’s ChatGPT, upping its game in the tech and AI space.