"Microsoft is offering buyouts to employees who want to retire, with eligibility based on a combination of age and years of service totaling 70 or more. This program could impact up to 7% of its US workforce, amounting to approximately 8,750 employees."
"The buyouts provide a way for Microsoft to trim its workforce without conducting high-profile layoffs, which have been common in the tech industry recently. The company has faced pressure to reduce headcount, particularly due to advancements in AI."
"Microsoft is also overhauling its pay and rewards system, moving away from tying stock awards to bonuses. This change aims to give managers more flexibility in recognizing and rewarding top performers within the company."
Microsoft is providing one-time buyouts to eligible long-serving employees in the US, potentially affecting 7% of its workforce. Employees who qualify must have a combined age and years of service of 70 or more. The program excludes high-ranking employees and those in sales. This initiative allows Microsoft to reduce its workforce discreetly amid ongoing layoffs in the tech industry. Additionally, Microsoft is revamping its pay and rewards system to better recognize high performers and is investing heavily in AI to remain competitive.
Read at www.businessinsider.com
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