Microsoft Doubles Salary Budget to Retain Staff as Cost of Living Rises
2022.05.16 21:25
© Bloomberg. Signage outside the Microsoft campus in Mountain View, California, U.S., on Thursday, July 22, 2021. Microsoft Corp. s expected to release earnings figures on July 27.
(Bloomberg) — Microsoft Corp (NASDAQ:MSFT). said it will “nearly double” its budget for employee salaries and boost the range of stock compensation it gives workers by at least 25%, mainly affecting “early to mid-career employees,” to retain staff and help people cope with rising inflation.
“As we approach our annual total rewards process, we are making a significant additional investment this year to compensate our employees globally,” the Redmond, Washington-based software giant said Monday in a statement. “While we have factored in the impact of inflation and rising cost of living, these changes also recognize our appreciation to our world-class talent who support our mission, culture and customers, and partners.”
©2022 Bloomberg L.P.
