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DeadWorld@lemm.ee

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

submitted 2 weeks 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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[–] DerArzt@lemmy.world 4 points 2 weeks ago (1 children)

How does it benefit them

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

[–] Anticorp@lemmy.world 6 points 2 weeks 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.