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

submitted 5 days ago by [email protected] to c/[email protected]

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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 22 points 5 days ago

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

[–] Anticorp 9 points 5 days ago (2 children)

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 3 points 5 days ago (1 children)

How does it benefit them

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

[–] Anticorp 5 points 5 days 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 1 points 4 days ago

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

70,000,000/2550=31k

[–] [email protected] 6 points 5 days ago

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

[–] [email protected] 1 points 4 days ago

~~despite~~ due to

[–] [email protected] 0 points 5 days ago

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