Microsoft Cash Award: Tech Giant Announces up to 25% of Annual Bonus for Employees; Check Details and Know Why
Microsoft is reportedly offering a special cash award of up to 25 percent of the annual bonus to salaried and hourly employees at the senior director level and below, as a one-time recognition of their contributions to the company's performance in the recently concluded fiscal year.
New Delhi, August 1: Microsoft has reportedly announced a special cash award for its employees, offering up to 25 percent of their annual bonus. As per reports, the tech giant will provide a one-time cash award for its employees, recognising their contributions to the company's performance in the recently concluded fiscal year. The Microsoft cash award might boost morale and reward employees for their contributions, following a period of layoffs. The special bonus is expected to benefit several Microsoft employees.
According to a report of CNBC, Microsoft has announced that it will provide a “cash award” of up to 25 percent of the annual bonus to certain employees. The bonus amount could range between 10 percent and 25 percent of their annual bonus. Kathleen Hogan, Microsoft's chief people officer, mentioned in a memo sent to employees that this award will be available to salaried and hourly workers at the senior director level and below. Junior-level employees might receive an award of up to 25 percent of their bonus. The senior directors can receive up to 10 percent of the annual bonus. Microsoft CEO Satya Nadella Says AI Assistant Copilot Accounted for 40% of GitHub Revenue Growth at USD 2 Billion in 2024.
Microsoft Cash Award
To show appreciation for a successful fiscal year, Microsoft is reportedly planning to provide additional payouts to its employees. These payouts might vary in size, as they are intended to be significant for employees at different levels within the company. SEBI To Notify Regulations on Financial Influencers Soon, Says Chairperson Madhabi Puri Buch at NSE Event.
It is common for top technology companies to offer higher compensation to software engineers with varying levels of experience. Among these engineers, those who specialise in artificial intelligence are particularly in demand. As per reports, Microsoft is facing challenges in retaining its employees and attracting new talent. Despite the Federal Reserve's efforts to increase interest rates starting in 2022, the labour market remains strong.
(The above story first appeared on LatestLY on Aug 01, 2024 06:24 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).