i just hit 6 months as a new grad today, wonderful coincidence. severance is very good, but not laying everyone off at once is torment
Microsoft to lay off 10k workers
121–130 of 284 posts
Re: Microsoft to lay off 10k workers
#122[deleted]
Re: Microsoft to lay off 10k workers
#123MSFT manager of 25+ person team here with no actual heads up on this. The writing has been on the wall for months though from internal comms so this should come as a surprise to no one. No one on my team has any information about this beyond the Satya email, so this is either a "no news is good news" situation (assuming you don't actually want to be laid off), or a poorly executed process. I'm hoping for the former f…
I always assumed that the disclosure rules for publicly traded companies would require them not to give anyone notice in advance of the public.
Not true. Companies share material non public information internally. What they do is they have blackout periods where you cant trade the stock, and constant reminders not to trade based upon material non public information (insider trading)
Tl;DR = possessing insider info != insider trading
Generally speaking, with a layoff, they want all employees to hear it from official sources and not internal rumors.
Re: Microsoft to lay off 10k workers
#124> When I think about this moment in time, the start of 2023, it’s showtime – for our industry and for Microsoft. He could have left that part out.
I mean I don't understand the big announcement in the first place; with a company that large, reducing staff count by 10K can be done organically, simply by not hiring replacements. Which makes me think of two things; one, they want to get rid of very specific people, people who wouldn't quit on their own. And two, that they can't just reduce staff count without an announcement, because staff count is one of those me…
Some low performing employees just wont leave on their own. Sometimes its the higher performers who feel they deserve more compensation and leave. With your proposal the company could end up with only the low performers which is the opposite intent of a layoff
Re: Microsoft to lay off 10k workers
#125Families will get torn apart, people with health issues will be on their own, immigrants will get booted. C-suite will get a raise from the stock price bump. Congrats on our system.
Whew, are you for lifetime employment? Look what that did to Japan.
>>people with health issues will be on their own
Maybe the US sorts this sheet out, really about time
Re: Microsoft to lay off 10k workers
#126>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. Wow, that way way, better than what we get by law in my EU country when you're laid off (ju…
Nonsense. European families get healthcare for life.
eehh, no? Pretty sure I pay for mine every month (NL).
Re: Microsoft to lay off 10k workers
#127Earlier quoted context omitted.
I mean I don't understand the big announcement in the first place; with a company that large, reducing staff count by 10K can be done organically, simply by not hiring replacements. Which makes me think of two things; one, they want to get rid of very specific people, people who wouldn't quit on their own. And two, that they can't just reduce staff count without an announcement, because staff count is one of those me…
Some low performing employees just wont leave on their own. Sometimes its the higher performers who feel they deserve more compensation and leave. With your proposal the company could end up with only the low performers which is the opposite intent of a layoff
It's not necessarily for performance, more often these layoffs are a way to get rid entire teams and you can't do that through natural attrition.
Re: Microsoft to lay off 10k workers
#128Earlier quoted context omitted.
Legit question, don't EU have by law, very generous unemployment benefits compared to the US?
Depends on the EU country. Where I live you get 60% of your pay for something like 6 months, plus the public healthcare coverage. Though, it's not exactly a vacation, as you're expected to prove to the unemployment office you are actively looking for a job and interviewing and you're not allowed to leave the country during that period. I mean you can leave the country, nobody will stop you, but you'll not receive une…
You can leave easily and officially Germany during unemployment. Just bring the proof, that you sent your weekly applications and tell the Arbeitsamt officer that you’re leaving. They don’t really care about white collar workers making much more money than they do anyway. Their focus were blue collar workers and special cases like illiterate foreigner anyway. At least 5 years ago in Baden-Württemberg.
Re: Microsoft to lay off 10k workers
#129Families will get torn apart, people with health issues will be on their own, immigrants will get booted. C-suite will get a raise from the stock price bump. Congrats on our system.
The Federal Reserve wants to tame inflation by cooling the economy. I don't believe that historically that has ever been achieved without causing unemployment to rise. These large companies are ultimately doing what the Fed wants them to do, no point blaming the c-suite for that?
Worse, they're actually sort of using unemployment rate as a benchmark on when the economy has cooled down and when to stop raising the rates.
eg. https://www.forbes.com/sites/dereksaul/2022/10/12/does-the-f...
It's politically incorrect to say the Fed is trying to make x% people lose their jobs but that's basically what they're scheming for the past year or so...
Re: Microsoft to lay off 10k workers
#130Earlier quoted context omitted.
I mean I don't understand the big announcement in the first place; with a company that large, reducing staff count by 10K can be done organically, simply by not hiring replacements. Which makes me think of two things; one, they want to get rid of very specific people, people who wouldn't quit on their own. And two, that they can't just reduce staff count without an announcement, because staff count is one of those me…
Some low performing employees just wont leave on their own. Sometimes its the higher performers who feel they deserve more compensation and leave. With your proposal the company could end up with only the low performers which is the opposite intent of a layoff
Commonly called the Dead Sea Effect. You evaporate out your water and you're just left with salt.