Last week Microsoft announced its plan to cut about 5% of its workforce—or 10,000 employees—in 2023.
In a statement, Microsoft CEO Satya Nadella noted the software company’s need to cope with a bleak financial outlook that has affected other tech giants.
For example, Alphabet, Meta, and Amazon each made headlines recently for announcing substantial layoffs amid inflation, high interest rates, and spending slowdowns.
Microsoft also acknowledged that its customers are exercising caution due to recessions in companies across the globe.
Per severance packages, Nadella wrote: “U.S.-benefit-eligible employees will receive a variety of benefits, including 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.”
To read the full article, click here.
Looking for more exclusive content? See what’s trending on the Mployer Advisor blog.
.webp)
.svg){kind=small}
.svg){kind=small}
.svg){kind=small}
