Beautiful Virgin Islands

Thursday, Oct 17, 2024

Microsoft To Cancel Salary Hikes, Cut Budget For Bonuses This Year: Report

Microsoft To Cancel Salary Hikes, Cut Budget For Bonuses This Year: Report

In January, Microsoft said it would let go of 10,000 workers, adding to the tens of thousands layoffs announced before that across the technology sector
Microsoft Corp will not raise salaries for full-time employees this year and is reducing budget for bonuses and stock awards, Insider reported on Wednesday, citing an internal email by CEO Satya Nadella.

The tech giant did not immediately respond to a Reuters request for comment.

"Last year, we made a significant investment in compensation driven by market conditions and company performance, nearly doubling our global merit budget...this year the economic conditions are very different across many dimensions" the report quoted Nadella saying.

In January, Microsoft said it would let go of 10,000 workers, adding to the tens of thousands layoffs announced before that across the technology sector as it deals with slowing growth in a turbulent economy.

Microsoft has now squarely placed its focus on generative AI, an area the industry sees as a bright spot.

In collaboration with ChatGPT maker OpenAI, which also has received billions of dollars in funding from Microsoft, the tech giant has been infusing the AI tech into its Office products as well as search engine Bing.
Comments

Oh ya 1 year ago
So kids i guess being able to code is not going to cut it, you might have to learn how to be a plumber, welder, carpenter or some other trade

Newsletter

Related Articles

Beautiful Virgin Islands
0:00
0:00
Close
US Warns Israel of Potential Aid Cuts Over Gaza Assistance Delays
Meta Faces Legal Battle Over Teen Social Media Addiction
UK Government Proposes Weight-Loss Injections to Combat Obesity and Boost Employment
UK Gambling Firms Face Market Turmoil Amid Possible Tax Hike
Labour MP Criticizes UK's Dependence on Elon Musk's X
Tracey Emin Questions the Longevity of Male Artists' Creativity
Pay Growth Decline in Great Britain May Lead to Interest Rate Cuts
David Cameron Reveals Planned Sanctions on Israeli Ministers
UK Unveils Weight Loss Jabs for Unemployed to Boost Health and Economy
Incineration: UK's Dirtiest Power Source
Potential National Insurance Rise for Employers Under Consideration
Russia's Call for a BRICS Financial System Alternative
Indigenous Groups in Brazil Protest Carbon Credit Deal
Only A Third Of Europe's Surface Waters Are Healthy
Taiwan Records Unprecedented Chinese Military Activity Post-Drills
Israel Vows to Limit Retaliatory Strike on Iran to Military Facilities
Four Killed in Tesla Electric Car Fire in France
Man with Weapons Arrested Near Trump Rally in California
How Ego and Pettiness are Sinking the UK Economy
China Conducts Military Drills Around Taiwan: A Strategic Warning
Tech Boosts Singapore’s Economy to 4.1% Growth in Q3
US Deploys THAAD Missile Defense System to Israel
DNA Evidence Suggests Christopher Columbus Was a Sephardic Jew
Rise in Self-Diagnosed ADHD Among Adults
Noel Tata Appointed Chairman of Tata Trusts Following Ratan Tata's Passing
Keir Starmer Reflects on His First 100 Days as Prime Minister
UK Investigates Firms for Alleged Russian Oil Sanctions Breaches
Keir Starmer's First 100 Days: Achievements and Challenges
Exposing Mohamed Al Fayed: A Personal Battle
Tesla's Robotaxi Design Strikes Controversy
Tragedy Strikes MSC Virtuosa Near Channel Islands
Scottish DJ Jackmaster Dies After Head Injury in Ibiza
Alex Salmond: A Political Life of Contrasts and Influence
Former Scottish First Minister Alex Salmond Dies
North Korea Accuses South Korea of Drone Leaflet Campaign
Poll Shows Trump Favored Over Harris in Handling Wars
Boeing to Reduce Workforce by 10% Amid Financial Strain
Prospect of UK Rejoining the EU Discussed by Peter Mandelson
UK Businesses Halt Hiring Due to Budget Speculations
Council of Nations Aims to Revitalize UK Power-Sharing
Starmer Criticizes Minister's P&O Ferries Boycott Call
BBC Initiates Review to Counteract Workplace Power Abuses
Key Insights from Post Office Chief Nick Read's Horizon IT Inquiry Testimony
Kemi Badenoch and Robert Jenrick: Perspectives in Tory Leadership Race
Cocaine Smuggling Operation in Banana Shipment Foiled by UK Authorities
Police Investigate 40 New Allegations Against Mohamed Al Fayed
Government Navigates Dispute Over DP World's £1bn London Port Expansion
Historic Floods Reshape Sahara Desert Landscape
Noel Tata Appointed Chairman of Tata Trusts
Brazilian Man Arrested for Decades-long Abuse and Imprisonment of Family
×