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Microsoft CEO's pay rises 63% to $79m, despite devastating year for layoffs: 2550 jobs lost in 2024 (www.eurogamer.net)

submitted 1 week ago by SineNomineAnonymous@lemmy.ml to c/iwwunion@lemmy.ml

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cross-posted from: https://lemmy.world/post/21259576

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.

Regardless, Microsoft's shares are up and the company's market value is now higher than $3tn, as it works to capitalise on the rise of AI.

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[–] faltryka@lemmy.world 9 points 1 week ago* (last edited 1 week ago) (2 children)

At the end of the day his performance is not measured by how many jobs the company has, it is measured by how profitable the investment made by the companies shareholders were.

The best proxy for that is share price, and MSFT currently is just shy of $430 after starting the year around $370.

So while this is a damning indictment of the systems we live in, it is those systems working in an expected and predictable way.

[–] SineNomineAnonymous@lemmy.ml 3 points 1 week ago (1 children)

Nobody said it wasn't how it was intended to work, we know that. That's the whole point of unions.

Honest question here: do you know what community you're in? This isn't worldnews.

[–] faltryka@lemmy.world 1 points 1 week ago

Fair question, I randomly saw this on all and wasn’t aware of the community.