They're spreading it out over the full year. Interesting that they would announce it up front like this? What does this do to morale and retention?
I guess it gives anyone on a visa a lot of time to find something new
Microsoft to lay off 10k workers
21–30 of 284 posts
Re: Microsoft to lay off 10k workers
#22>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…
Legit question, don't EU have by law, very generous unemployment benefits compared to the US?
The scale of benefits generally looks like:
Average US worker << Average EU worker < US Big Tech Worker
Re: Microsoft to lay off 10k workers
#23Families 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.
People with health issues should still be able to purchase their existing insurance through COBRA, and, once that expires, through the public exchanges that are guaranteed to cover their existing condition. Thanks ACA.
> once that expires, through the public exchanges that are guaranteed to cover their existing condition. Thanks ACA.
The ACA just states that insurers can't refuse a customer who wants to purchase a plan just because they have a preexisting condition. It doesn't actually require that the plan cover treatment for said condition.
In many states - including wealthier deep blue states - the marketplace plan options are actually quite terrible.
Re: Microsoft to lay off 10k workers
#24>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…
The difference is Microsoft doesn't have to be so generous.
Re: Microsoft to lay off 10k workers
#25Earlier quoted context omitted.
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?
They could all take massive pay cuts to preserve jobs. They have agency and they have chosen to enrich their stock price at the expense of people’s lives and well being.
Microsoft net income 2022: ~$70B. Why force pay cuts or fire workers when you have roughly $300k of net income per employee to work with?
Re: Microsoft to lay off 10k workers
#26They're spreading it out over the full year. Interesting that they would announce it up front like this? What does this do to morale and retention?
FY23 Q3 is until end of March, FY24 Q1 starts in July for some companies.
Re: Microsoft to lay off 10k workers
#27Earlier quoted context omitted.
Legit question, don't EU have by law, very generous unemployment benefits compared to the US?
The scale of benefits generally looks like: Average US worker << Average EU worker < US Big Tech Worker
Depends how you define average.
Statistically, the average US workers has a much higher purchasing power than the average EU worker.
Unless by average you meant poor people or workers on minimum wage in which case you'd be correct, but that's in no way average anymore.
Re: Microsoft to lay off 10k workers
#28Families 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.
Ah yes, the “let’s force companies to become unprofitable” theory. I think Venezuela and Argentina are good places for you.
Companies have externalities (environmental, societal etc) from their operations, and someone pays for them.
You can close your eyes and cheer about profitability, but the bill is coming anyway.
Re: Microsoft to lay off 10k workers
#29MSFT 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…
If he gave managers a heads up, it would have been immediately leaked to the press.
Good thing it didn't leak then, huh
Re: Microsoft to lay off 10k workers
#30MSFT 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…
> The writing has been on the wall for months though from internal comms
What did the hints look like?