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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?
It says "through the end of FY23 Q3". Microsoft's fiscal year ends at the end of June, so their "FY23 Q3" is the current quarter.
>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?
MSFT 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…
This will never be good news, obviously, but please communicate the important facts clearly.
> 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.
Families 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.
Earlier 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.
The execs get paid a lot - but there's not that many of them, and there's 200k people at MSFT making an average salary (with benefits) >$200k. That's >$40B per year. The execs don't take home >$2B per year.
Satya made <$60M last year. There's not 35 execs at MSFT making the same amount of money or higher. There's 18 others, and they make a lot less money on average.
>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.
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?
Big brain: I'm telegraphing that we'll be letting lots of people go so they will self-select and we won't have to fire as many. I imagine that someone could have this idea, but I doubt it benefits the company in practice.
Micro brain: 'If you have not received notice that are are affected, your are safe! Resume being 100% productive until you receive notice that you are fired at a later time. That is all.'
Having lived through 2001 dot-com bust, I can say that being the retained employee can be worse than being laid off.
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?