Microsoft CEO Satya Nadella confirmed in a message to employees that by March 31, 2023, the company will lay off about 10 thousand people, which is approximately 5% of the total number of Microsoft employees.
In a letter, Satya Nadella stated the following:
In the second quarter of fiscal year 2023, Microsoft will assume $1.2 billion in expenses related to severance payments, changes to the hardware mix, and rental consolidation costs. Note: The fiscal year starts on July 1 and ends on June 30.
Eligible U.S. employees will receive above-market severance pay, six months of uninterrupted medical care, six months of equity retention, career reassignment services, and will be given 60 days prior notice, regardless of whether such notice...