Microsoft CEO's pay rises 63% to $73m, despite devastating year for layoffs (t.co)

submitted 1 week ago by DeadWorld@lemm.ee to c/brainworms@lemm.ee

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cross-posted from: https://lemmy.world/post/21252819

Microsoft boss Satya Nadella will earn a wallet-busting $79.1m (£60.9m) this financial year, up 63 percent on his compensation for 2023.

The huge boost to Nadella's pay in both cash and stock, announced by Microsoft last night, comes after a positive year overall for the company's financial revenues - but a turbulent 12 months for its employees.

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.

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[-] TommySoda@lemmy.world 24 points 1 week ago

Why do you think they had to fire those people? Yachts don't grow on trees, you know.

[-] Anticorp@lemmy.world 10 points 1 week ago

Yup, he took the salaries of those 1550 people, plus extra. What's odd is that the board continues to approve this sort of stuff. How does it benefit them? Also, Satya looks nothing like that these days. That picture must be 30 years old, or he's aged 3 decades since it was taken.

[-] DerArzt@lemmy.world 4 points 1 week ago

How does it benefit them

The stock market 'likes' layoffs for some reason, so stock price go up

[-] Anticorp@lemmy.world 6 points 1 week ago

I mean his ridiculous compensation. How does the board benefit from giving him tens of millions more dollars every year? It's not like he was going to leave. He already had one of the most coveted and overpaid jobs in the world.

[-] Knock_Knock_Lemmy_In@lemmy.world 1 points 1 week ago

Yup, he took the salaries of those 1550 people, plus extra.

70,000,000/2550=31k

[-] atro_city@fedia.io 9 points 1 week ago

What are people going to do? Vote to have laws against those kinds of things? Nah, how about voting against immigrants instead?

[-] jlow@beehaw.org 3 points 1 week ago

Surprise! He worked so hard, he deserves it! Just fire more plebs.

[-] Fixbeat@lemmy.ml 1 points 1 week ago

Layoffs have nothing immediate to do with the health of the company. It damages the company, but that is for future quarters.

[-] YodaDaCoda@aussie.zone 1 points 1 week ago

~~despite~~ due to

this post was submitted on 25 Oct 2024

93 points (97.9% liked)

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