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Microsoft CEO's pay rises 63% to $79m, despite devastating year for layoffs: 2550 jobs lost in 2024 (www.eurogamer.net)

submitted 1 month ago by ForgottenFlux@lemmy.world to c/technology@lemmy.world

102 comments fedilink hide all child comments

2024 has seen two mass layoffs at Microsoft, with 1900 staff laid off in January, before a further 650 Xbox employees were shown the door in September.

Regardless, Microsoft's shares are up and the company's market value is now higher than $3tn, as it works to capitalise on the rise of AI.

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[–] ChickenLadyLovesLife@lemmy.world 10 points 1 month ago (1 children)

At my last company, they usually gave end-of-the-year bonuses instead of raises. They were pretty generous, usually amounting to about half of our annual salaries, but it of course prevented us from being guaranteed that level of compensation the following year. That's why I always describe bonuses as raises followed by pay cuts.

[–] scarabic@lemmy.world 4 points 1 month ago

Yeah pretty much. Everything about it is a hedge. They can pay less if their numbers tell them to. They can lay you off and not give you anything. They can make more cash disappear if they have to. It’s the squirrelliest shit yet they cast it like a gift from god.