Submit your comments on this article |
Economy |
Microsoft not giving raises to employees, cutting bonuses this year: report |
2023-05-11 |
![]() The tech giant did not immediately respond to a Rooters request for comment. "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" the report quoted Nadella saying. "This year the economic conditions are very different across many dimensions," CEO Satya Nadella said in an internal email In January, Microsoft said it would let go of 10,000 workers, adding to the tens of thousands 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 search engine Bing. Related: Microsoft: 2023-05-04 Artificial Intelligence to Replace Teachers: Bill Gates Microsoft: 2023-04-26 NYC Mayor Adams is 'coming for your food,' waging war on modern US diet to boost climate agenda, expert says Microsoft: 2023-04-25 Newly unearthed iPhone spyware tool sold to governments for targeted surveillance |
Posted by:Fred |
#4 They only have $132 Billion in Cash; I can see their issue with giving raises. |
Posted by: airandee 2023-05-11 11:39 |
#3 Only about 20 years late. |
Posted by: ed in texas 2023-05-11 10:31 |
#2 The Big Wigs to still see sane income tho, I am sure. |
Posted by: NN2N1 2023-05-11 08:10 |
#1 Their employees will be mad and move to other tech …. Never mind. |
Posted by: Super Hose 2023-05-11 08:04 |