Subj : Microsoft employees are set for a tasty bonus following record pr
To   : All
From : TechnologyDaily
Date : Wed Jul 31 2024 21:45:05

Microsoft employees are set for a tasty bonus following record profits

Date:
Wed, 31 Jul 2024 20:42:41 +0000

Description:
Token gesture following an excellent performing quarter shows a company on 
the back foot following its latest round of layoffs in June.

FULL STORY
======================================================================

Non-executive rank and file employees at Microsoft are set to receive one-off 
payments based on their roles, up to 25% of their annual bonus, after the 
company announced record profits this Q4 . 

The payments (via CNBC ), though welcome for workers, may be one of the ways 
that Microsoft is trying to boost employee morale following its role in 
sustained layoffs in the tech industry . 

Per CNBC , the tech giant is reportedly in panic mode as it attempts to 
retain its remaining US based talent, and recruit yet more people, following 
the strain placed on the labor market after the Federal Reserves aggressive 
campaign of hiking interest rates. Treating symptoms of low morale, not the 
cause 

While it may look good that Microsofts employees are getting their due, were 
also concerned that one-off payments will only delay any kind of revolt. 
Prior to the layoffs of 10,000 employees in June 2024 alone, Microsoft CEO 
Satya Nadella had been clear in 2022 that even something as straightforward 
as raising salaries for employees is out of the question . 

Reporting revenue this quarter of $64.73 billion this quarter, with $22 
billion of that being net profit, it seems odd Microsoft seems to be eager to 
cut back on personnel spending, but at the same time feels compelled to give 
tokens of appreciation to those that remain. It almost certainly can afford 
to give more than, at maximum - a quarter of an employees annual bonus, which 
is helpfully left unquantified. 

Microsofts annual revenue is up 16% year-on-year, and its cloud computing 
division alone now accounts for 44% of the entire companys revenue, marking a 
19% increase year-on-year - in no part due to the rise in popularity of its 
Copilot AI tool . The tone of our coverage of Microsofts Q4 report suggests 
that the company isnt shrinking, just growing less quickly than company 
executives will like. 

Its unlikely that one-off bonuses will keep employees that are perhaps 
disgruntled about their perceived lack of job security on-side for too long. 
Its a difficult time to be a Big Tech employee, and Microsoft may have to do 
more or risk its workers leaving of their own accord. More from TechRadar Pro 
Google and Microsoft now each consume more power than some fairly big 
countries Microsoft's latest partnership is set to give its AI workloads a 
major boost Russias shadow war against Europe has begun as cyber attacks 
abusing Microsoft infrastructure increase



======================================================================
Link to news story:
https://www.techradar.com/pro/microsoft-employees-get-bonuses-following-record
-profits


--- Mystic BBS v1.12 A47 (Linux/64)
 * Origin: tqwNet Technology News (1337:1/100)

.