Microsoft to freeze employee salaries
- May 11, 2023
- 0
Microsoft has decided to freeze the salaries of full-time employees this year to help the company cope with macroeconomic fluctuations. As reported by Ukrinform, this was reported by
Microsoft has decided to freeze the salaries of full-time employees this year to help the company cope with macroeconomic fluctuations.
As reported by Ukrinform, this was reported by Bloomberg.
The company’s CEO, Satya Nadella, said in an internal note that the move is necessary to generate “sufficient revenue” to invest in the platform’s massive shift towards artificial intelligence.
He added that Microsoft has already increased compensation in 2022 and that the company will consider raising rates for hourly workers while maintaining its bonus and share-based rewards program without “reimbursement.”
Last month, the company reported quarterly profits and sales that beat forecasts and bets on AI. These include a new $10 billion investment in OpenAI and the Bing internet search chatbot, a strategy aimed at increasing future sales of Azure cloud services, search ads, and office productivity apps.
As reported by Ukrinform, professional communication social network LinkedIn, owned by Microsoft Corporation, plans to lay off 716 people and shut down the China-focused application due to fluctuations in demand.
Source: Ukrinform
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