There is good news for Microsoft employees during the incremental season. Its chief executive officer (CEO), Satya Nadela, has announced plans to “almost double” the company’s budget to raise employees’ salaries and increase the range of stock compensation that pays at least 25 percent to some employees, according to a GeekWire report. The decision was made to retain employees and help them deal with inflation, the report said.
Geekware reports that Mr Nadela will double the global budget for merit-based increased wages, according to an email sent to Microsoft employees.
Mr Nadela said Microsoft would pay employees more in their early and mid-career stages, as well as employees in certain geographical locations.
A Microsoft spokesman said in an email to CNBC: “People come and stay at Microsoft because of our mission and culture, the work they find money for, the people they work with and how they are rewarded.” Move
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“This increased investment in our global compensation reflects an ongoing commitment to provide a highly competitive experience for our employees,” the spokesman added.
Microsoft has increased its annual stock range by at least 25 percent for employees 67 and below, as confirmed by Bloomberg.
GeekWire said it had accessed a copy of the memo where Mr Nadela said, “From time to time, we see that our talent is in high demand, due to the amazing work you do to empower our customers and partners.”
“Across the leadership team, your influence is both recognized and deeply appreciated and I want to thank you very much for that. That’s why we’re making long-term investments in each of you, “he added.
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In January, Google raised the salaries of its top four executives. Their base salary has been raised from $ 650,000 to $ 1 million.
Microsoft Corporation is a global technology company based in Redmond, Washington, which produces computer software, consumer electronics, personal computers and related services.
Among the most well-known software products are Microsoft Windows operating system, Microsoft Office suite and Internet Explorer and Edge web browsers. The Microsoft Surface range of Xbox video game consoles and touchscreen personal computers is the company’s main hardware offering.