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.
Because of the devastating year for layoffs.
The purpose of a system is what it does.
Came here to say exactly this.
Exactly, they were labor heavy and he fixed a problem which resulted from gross over hiring. Sounds like he’s doing a good job.
The ideal corporation has no labor and only profits. Somehow.
I mean, yeah. Isn’t that what we would like here? To not have to work if we don’t want to and yet tech progresses steadily, industry still operates, the world continues moving while people are free to engage in their desired pursuits?
As long as they’re generating profits then that wealth will not go to the people who lose their jobs. They’ll just be a surplus population.
*in America
Americans have to realise there are other ways to run a country. What’s going on there isn’t normal for the rest of the world.
Profits by definition only go to the owners and investors. Once they’re seized by the government they’re no longer profits, they’re company expenses.
Those are the only two options?
For corporations, yes. Profits are always the money left after expenses that are taken as surplus. I suppose there’s also cooperatives, which redistribute the profits to the member-owners.
But profits are for the owners. That’s how private property works?
Most Americans have never owned and will never own a passport, and they dont read much. 60% of them live paycheck to paycheck too. So they dont know and they dont have the time or energy to care.
Not If the profits are in the hand of a single owner, who relied on his workers to get to this point of automation and profit
Transition periods are never without issue.
And rarely peaceful.
Yes. Those laid off workers aren’t going to a world where they’re free to engage in their desired pursuits. They’re making hard decisions to keep their family alive. That second part is important.
If everyone has all their needs adequately met and excessive 79 mn annual salaries are non-existent.
This just might be the stupidest fucking comment I’ve seen all week.
You type without looking?
You definitely type without thinking.
The trap where the thing you’re saying is totally valid and accurate but it’s not the thing to be talking about. I don’t know where this thinking comes from or what it’s called, but I notice it within conservative groups (probably because I’m critical by default of those ideas). It reminds me of BLM protests and how Ben Shapiro was talking about damage to property and business owners when the actual issue and discussion to be had is entirely different. It just serves to support the problematic behaviour that people are trying to change.
So yes, there was a surge in demand and they over-hired and letting people go is the right choice, but the whole situation is fucked and the optics of this kind of raise is dogshit.
They were labor heavy because they (and all the other tech giants) overhired during the pandemic assuming that record profits would continue forever. Then they had Surprised Pikachu Face when that didn’t happen. That’s not doing his job. It should have been obvious the spike was temporary.