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.
This is why every profession, blue or white collar, needs to unionize.
Go Copilot!
I think the author got confused, it’s not despite off it’s because of.
He’s doing what the Board wants, stock price is up. If there was a worker advocate on the board, maybe things would be different.
That’s roughly 30k for every employee laid off
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
Sounds like an easy sell to the board, then. It it’s that much of a net positive in economics.
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
That’s some real bald-headed behavior if you ask me.
In case you missed it, in our broken model of civilization a CEO’s only responsibility is to increase value for shareholder. Not to clients, not to employees, not to the biosphere.
Market cap increased, job’s done successfully.
A) 1971, Economist Milton Friedman explicitly told business the “only social responsibility” for businesses is to increase shareholder value. The Business Roundtable heartily endorsed this view, setting the stage for the next half century of villains to gleefully enrich themselves without compunction.
B) 2019, Business Roundtable reversed their 50 year position to include that businesses should be beholden to all Stakeholders, not just shareholders.
But of course the damage has been done, and continues onward. To compound this, the FED’s open-purse monetary policy for 14 YEARS ushered in the worst inflation in 40 years, while wages have stagnated for 4 decades, kicking off around the time Baby Boomers were birthing the first Millennial children.
Well, yeah. How do you think they could afford Nadella’s pay raise?
Because, not despite.
Immaculate concision
fuck him not just for making those people’s lives miserable, but for stamping down the fucking wages of everyone else in tech by flooding the fucking market
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]Headline confused “despite” and “due to”
yeah lol what do they think is happening here
his payrise is equivalent to something like 3000 US workers minimum wage annual salaries
if my math is correct (which it probably isn’t)
Yup, that checks out for me.
That said, that’s the federal minimum wage, which almost nobody actually gets (article says $1M people).
One million dollar-people?
His salary increase must be inversely proportional to the quality increase in Windows 11.
You’re saying he deserves more?!
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.
