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Microsoft CEO Satya Nadella freezes employee salary hikes until 2023
Microsoft CEO Satya Nadella
Earlier this week, CEO Satya Nadella told Microsoft employees that the company would not offer a pay raise this year. This comes after the tech giant announced job cuts of more than 10,000.
Microsoft employees have been facing a tough time lately. Now, times are going to get even more challenging for them. Earlier this week, CEO Satya Nadella told Microsoft employees that the company would not offer a pay raise this year. This comes after the tech giant announced job cuts, more than 10,000 of them.
The news of the pay raise cut disappoints many Microsoft employees hoping for a raise, especially given the company's impressive financial performance in recent quarters. So let's quickly look at a few things about the matter.
Nadella shared that the decision not to offer a salary hike this year is due to the economic uncertainty caused by the COVID-19 pandemic. The company has stated that it wants to ensure its business and employees' stability during these uncertain times. While there will be no pay increase this year, Microsoft has promised to invest in its employees through bonuses and stock awards. The tech giant said it is committed to offering its employees opportunities for growth and development.
This announcement follows that Microsoft plans to lay off thousands of employees at its retail stores as it shifts its focus to online sales. The layoffs are expected to affect full-time and part-time employees. In addition, many employees have expressed disappointment with the decision not to offer a pay increase, particularly given the company's strong financial performance. Microsoft reported net income of $16.5 billion for the quarter ended December 31, 2020, up from $11.6 billion for the same quarter a year earlier.
Despite disappointment among some employees, we should note Microsoft's commitment to investing in its workers through bonuses and stock awards demonstrates that the company remains focused on the well-being and growth of its employees. Microsoft isn't the only tech company forced to make tough decisions in recent months. In January, Meta announced it was laying off 3,200 employees, and Google said it would cut back on hiring.
