Microsoft Skips Salary Increases for Full-Time Employees this Year

Microsoft will hold off on offering salary increases to full-time employees, CEO Satya Nadella told staffers by email Wednesday. From a report: The move aligns with Microsoft's efforts to reduce costs as revenue growth slows and clients reel in spending. In January, the software maker said it would cut 10,000 jobs, or just under 5% of its workforce. Alphabet, Amazon, Meta and other tech companies have downsized as well in recent months. Last year, as inflation rippled through the economy, Microsoft nearly doubled the budget for merit increases and boosted stock allocations for certain employees. This year, compensation will look more normal. "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," Nadella wrote in the email. Microsoft did not immediately respond to a request for comment. Insider reported on the message earlier. Nadella said performance bonuses for Microsoft's top executives will be down considerably from last year.

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