This year, Microsoft Corp skips pay hikes and has decided not to increase salaries for any full-time employees, citing macroeconomic uncertainty and changing market dynamics “in this new era of AI”. In this new era of artificial intelligence, “we are clear that we are helping to drive a major platform shift, while also facing global macroeconomic uncertainties and doing so in a dynamic, competitive environment,” Nadella Satya.
Focus on AI
Microsoft Corp skips pay hikes. stated on Wednesday that it will not increase full-time staff compensation
this year due to the challenging economic climate, but it will keep up its bonus, stock award, and promotion programs. The business, which is now firmly focused on the profitable field of generative AI, made the decision to fire 10,000 people in January, following other tech firms in getting ready for a challenging year.
We recognize that navigating both a dynamic economic environment and a major platform shift requires us to make critical decisions in how we invest in our people, our business, and our future,” a spokesperson for the tech giant said.
Microsoft skips pay hikes this year amid sharp focus on AI;
Maintain Bonus and Stock Award
Along with ChatGPT maker OpenAI, which has received billions of dollars in funding from Microsoft, the tech giant has been infusing the AI tech into its Office products and search engine Bing. Earlier in the day, Insider cited an internal email by CEO Satya Nadella that said Microsoft was helping drive a major platform shift in the new era of Al against the backdrop of rising competition and global macroeconomic uncertainties.
“We will maintain our bonus and stock award budget again this year, however, we will not overfund to the extent we did last year, bringing it closer to our historical averages,” Insider said, quoting from Nadella’s email.