Microsoft Workers Won't Get Annual Pay Bump Despite $18.3 Billion In Profit In Past 3 Months

[ruet]

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Source: Gamespot

Full-time employees at Microsoft will not receive their expected annual salary increases this year, a decision made after the technology giant posted a massive profit.

Microsoft CEO Satya Nadella said in a memo to staff obtained by Insider that economic conditions are to blame for the lack of a salary bump this year. Nadella said, "We don't take this decision lightly, having considered it over several months."

For the quarter that ended on March 31, Microsoft posted revenue of $52.9 billion (up 7%) and a profit of $18.3 billion (up 9%). Microsoft had $26.5 billion in cash and equivalents as of March 31. Despite the rosy results, Microsoft employees are not getting pay increases. Nadella's own pay increased 10% from 2021 to 2022, rising to $55 million.

In 2022, Microsoft announced plans to pay some of its workers a good sum more in salary and stock because talent "is in high demand." But in 2023, Nadella said the "economic conditions" of the world are "very different."

"Given this, we will fund our compensation commensurate with the overall market. As a senior leadership team, we don't take this decision lightly having considered it over several months, and believe it is necessary to prepare the company for long term success," Nadella said.

Read more: https://www.gamespot.com/articles/microsoft-workers-wont-get-annual-pay-bump-despite-18-3-billion-in-profit-in-past-3-months/1100-6513990/

[marble falls]

1. Bill Gates needs a new pair of shoes.

[dchill]

2. That "long term success" just might depend on...

...paying and rewarding the ones who will make it possible.

Of course, I'm not an expert in how billionaires get that way.

[Marthe48]

3. What a crock

If a giant like microsoft can't share its profit with the people who make it profitable, sounds like a good time to boycott their products. If that's possible.

What a load of bs. staya got his, though, didn't he?

[Farmer-Rick]

7. You can do that when you're practically a monopoly

Microsoft made huge profits but can't give their workers a pay raise because they want more profits and hate that their workers can pay rent AND buy food

What are you going to do? There's really no other game in town. And if you tried to start your own game, good luck paying the doubled Social Security and Medicare taxes. In California, your taxes (including state) could be almost 50% of your income. Yet corporations pay near 0 taxes.

[Marthe48]

8. I don't buy anything that isn't on any computer I buy

I loaded Libre for my word processor, use google, not edge, don't buy games or download apps. A younger relative retired from ms last year. Glad they got out and ms doesn't change retirement benefits.

[al_liberal]

4. He means they can hire employees laid off from other tech companies

So what are current employees going to do? Quit? And go where?

[SunSeeker]

12. That is exactly it. Those are the "market conditions" they say warranted a pay freeze. nt

[highplainsdem]

5. I suspect they're planning to lay off a lot of those workers soon, thanks to

AI, and they'd like some of them to quit first. This is one way to do it.

[peppertree]

6. But, of course.

[orleans]

9. what total bullshit -- microsoft cries poor mouth? oh fuck them! nt

[multigraincracker]

10. Revenue of $52 billion last year and

$60 spent on STOCK BUYBACKS, no money left.

[SunSeeker]

11. And yet..."Nadella's own pay increased 10% from 2021 to 2022, rising to $55 million."

[Joinfortmill]

13. Corporate life sucks. Been there.

[MustLoveBeagles]

14. Locking thread

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