Microsoft layoffs 2024 – the company is not cutting off employees all at once but doing it in intervals in different departments in a queue. In the third round of layoffs in 2024, Microsoft announced it laid 10,000 employees. CEO of Microsoft Satya Nadella said that the company would be “making changes that will reduce overall workforce by 10,000 jobs through the end of FY23 Q3 (third quarter).
Table Of Contents
Benefits For The Fired Employees During Microsoft Layoffs 2024
About the Microsoft layoffs 2024 severance package, CEO Satya Nadella said that “affected US employees will receive above market severance pay,” medical insurance for six months, continued authorization of the stocks for six months, career switch service, and 60 days’ notice before termination.
History Of Microsoft Layoffs
Microsoft has put down 559 employees working in the operation department in Bellevue and Redmond. Including this, the total reduction of employees from the company in the Seattle area bounces to 2,743, which makes up more than a quarter of the 10,000 cuts announced by the tech giant earlier this year.
Microsoft layoffs 2024 is one of the biggest rounds in the layoffs history of Microsoft, following the 5,800 reductions in 2009, and second was held for up to 18,000 positions dismissed in 2014. The 2014 layoffs were held soon after Nadella had been appointed CEO and involved axing around 12,500 former Nokia employees.
Talking about Microsoft layoffs Feb 2024, Microsoft announced an earlier round of layoffs in which 617 workers in Redmond, Bellevue, and Issaquah were dismissed.
A Microsoft spokesperson said,” Layoffs are part of the effort to align our cost structure with our income announced in January.”
Microsoft Layoffs 2024 ‘Smacking Up’, Employee Served For 21 Years Fired
An Indian employee, Prashant Kamani, who served for 21 years, was fired during the current redundancy of the workforce at Microsoft. Kamani, principal Software Development Manager at Microsoft, said,” Today, I was informed that my position at Microsoft has been eliminated. As I reflect on it Today, I feel a sense of gratitude more than anything else.
Kamani worked at Microsoft for more than 15 years despite spending time in Amazon and other tech companies; he again joined Microsoft in 2018 and was fired during massive Microsoft layoffs 2024.
While Kamani was embracing his tenure at Microsoft, he said,” Microsoft gave me many opportunities to learn and expand my skills, and I was able to take full advantage of them. The wealth of experience I gained throughout my career can’t simply be measured in years; it is immeasurable. And for all of that, I’m truly grateful to Microsoft.”
Company’s Earnings During Microsoft Layoffs 2024
Microsoft is expected to announce its budget plan for 2024 second-quarter earnings on January 25th, and the blows and $1.2 billion charge presage some missed income targets in various parts of Microsoft’s business. Microsoft finished its 2022 budgetary year with $198 billion in revenue and $83 billion in annualized revenue for the first time.
Overall, Microsoft’s layoffs 2024 ‘hit hard’ on the employees working worldwide at Microsoft. Due to these layoffs, employees are stressed as their jobs are at risk; they can get their termination letter anytime. The job cuts at Microsoft started just a few days after the company implemented a new unlimited time off policy. Microsoft employees that haven’t availed their annual leaves will get a one-time squander in April, and managers can approve unlimited “Discretionary Time Off.” The policy has had mixed acceptance internally at Microsoft, with some employees favoring the flexibility and others warning of a lack of guaranteed days and benefits.