Microsoft CEO's pay rises 63% to $79m, despite devastating year for layoffs
t.co
Microsoft boss Satya Nadella will earn a wallet-busting $79.1m (£60.9m) this financial year, up 63 percent on his compe…

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.

  • AwkwardLookMonkeyPuppet@lemmy.worldEnglish
    7·
    11 hours ago

    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@lemmy.world
      2·
      9 hours ago

      How does it benefit them

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

      • AwkwardLookMonkeyPuppet@lemmy.worldEnglish
        3·
        9 hours 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.

  • atro_city@fedia.io
    7·
    13 hours ago

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

  • Fixbeat@lemmy.ml
    21·
    11 hours ago

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