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.
When was the last time you got a 63% raise?
70% workload raise
Well his compensation is tied to the stock price so it’s not exactly a “raise.” My employer’s stock is near an all time high right now so I’m not complaining about how much I made from the shares I sold, but neither do I consider it a “raise” because it’s not guaranteed to be the same next year.
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.
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.
March 2023
Eh, congrats! New Job?
I’m self employed.
Found out I’m depressed, decided to reduce work to 3 days a week.
Raised prices to reduce clients. Turns out I now make more, doing less work. It is what it is.
Dont mean to pry, but I’ll gladly do whatever you’re doing
He’s mainly dealing with depression.
Only 2 days a week for depression? Rookie numbers
I once quit my job at a software company I really hated. They were desperate to keep me around for the projects I was leading so they asked if I would work hourly for a while. I quoted them a go-fuck-yourselves hourly rate which they immediately agreed to, which made me even more angry about my prior years of poor compensation. I worked under this agreement for about half a year and further improved my effective hourly rate by not working very hard.
Because, not despite.
Immaculate concision
That’s roughly 30k for every employee laid off
Sounds like an easy sell to the board, then. It it’s that much of a net positive in economics.
That’s some real bald-headed behavior if you ask me.
I’m bald.
My math says roughly $12k
79,000,000 / 2,550 = 30,980
The increase is only 30 mill
Gotcha, sounds like we’re measuring two different things then
Yeah. He was already making 49, I was looking at how much of the redistribution went to him, not much, but I imagine it’ll go to stock buybacks or AI electricity
Yeah maybe to their three mile island project. What a weird sentence. Just a few years off from our Weyland Yutani future
So the CEO gets less than half their salary for the year?
Sounds like a great deal for the company. Until, you know, the whole thing collapses because they laid off the workers who kept the whole thing running
If they were software engineers, they saved $200,000+ per person laid off
That’s how he makes dem big bux, by telling other people to fuck off
@ForgottenFlux disappointed but utterly unsurprised
I would like to propose some changes to that title:
Microsoft CEO’s pay rises 63% to $79m,
despite[because of] devastating year for layoffs: 2550jobs lost[employees were fired by their greedy CEO] in 2024 [because he wanted more money]CEO = SIC: Shareholder in Chief
Typical and most people in the US view CEO’s as heroes. US income distribution is on the same level as fucking Russia.
As someone from fucking Russia, people with biggest income in your country are usually first businessmen, second - something else, while in Russia those would be cockroaches from MFA, PA and other thieves, plus a few oligarchs who at some point were among those cockroaches.
So it may not be as bad yet, but frankly yes, you are giving out vibes of going in the same direction.
US is the OG oligarchy, but we cosplay “Democracy” to cope
I agree, but yours are real oligarchs, while those I’m talking about are a relatively new thing for you.
Russian-style ones are just blokes from one and the same corporation who chose they want to be celebrities. A façade. They used oligarchy as a scapegoat in the 90s, to avoid lustration while it still could be done.
I see your point. In US our oligarchs run the show. In russia, they submit to the “President” to obtain the position.
Go Copilot!
The board doesn’t care about the number of people employed. They care about the current profitability and future profitability.
Of course that’s their job; to look after shareholder interests. And the money would move to a better investment if they didn’t.
It’s the whole system you need to change, if you seek change, not moan about an individual CEO.
I don’t see how paying him so much is actually increasing dividends though.
Pay him half as much or find someone else who will do it for half as much
Current profitability is up. Profit margins are also up from last year. But I could see investors looking at the lack of any path after the current Xbox and wondering why they employ so many there. I’m sure other areas have also seen some stagnation.
That’s why Mitbestimmungsgesetz can be goddamn fucking awesome.
I’ve never heard of that. That’s a cool idea.
That would be awesome, but would have limited results if there are still a few enormous companies with patent and IP laws preventing competition.
You can’t have that eternal fight between democratic egalitarian monopoly and competitive jungle. The whole point of civilization is to have both representation and competition.
That would literally change everything for the better.
Pretty standard issue corporate psychopath.
CEOs gonna CEO.
An old friend was one of the people who got laid off in January. Fuck MSFT.
Thinking of all the cool products this CEO has killed off. I would love to see this company split up so that maybe they could innovate again.
Regulate monopolies. Eat the rich.
This is why every profession, blue or white collar, needs to unionize.
