is the latest technology giant to lay off scores of employees as the entire sector continues to restructure itself in the name of profitability over growth.announced that the company will lay off approximately 10,000 employees, beginning Wednesday. The layoffs, which will be completed by the end of Q3, will represent a bit less than five percent of the company’s workforce.
Nadella said that affected employees will receive “above-market severance pay, continuing healthcare coverage for six months, continued vesting of stock awards for six months, career transition services and 60 days’ notice prior to termination, regardless of whether such notice is legally required.”
I wonder what the total savings of those layoffs will be…to get some perspective, Microsoft’s CEO total compensation for 2022 was $54.9 million. Is one executive really worth that much per year to impact the operations of the company by laying off 10,000 employees?
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Source: MarketWatch - 🏆 3. / 97 Read more »