Microsoft just announced another overall excellent quarterly financial report earlier today that also closed out its 2024 fiscal year. However, what was not mentioned in that report is that current employees of the company will be getting something extra in terms of their salary.
GeekWire reports that Microsoft sent employees a memo today telling them they will get a one-time cash reward on top of their normal bonuses. The memo included a note from Microsoft's head people officer Kathleen Hogan, who wrote:
The senior leadership team and I want to recognize the tremendous work and impact of our people who delivered a terrific year of solid execution and world-class innovation.
The one-time cash reward will not be going to executives, according to GeekWire. The amount of the reward will reportedly be between 10 to 25 percent of an employee's normal bonus. Some employees in the lower parts of Microsoft's workforce will likely get bigger percentages to make the distribution of the rewards more even.
Microsoft has not revealed just how much money it is offering to employees, but GeekWire claims that each team member will likely get an extra check for thousands of dollars or perhaps even more.
The news that current Microsoft employees will be getting some extra cash will not likely make people who have recently been laid off by the company feel better. Despite Microsoft's solid financial results in the last fiscal year and its overall higher stock price, there have been a number of layoffs at the company in the 2024 calendar year so far.
That includes 1,900 team members who were cut from Microsoft's gaming division in January. Later in the year, it shut down three of its internal game development studios, which affected an unknown number of employees.
In June Microsoft announced a restructuring of its Mixed Reality division that caused an undetermined number of layoffs. Unconfirmed reports claimed that in June the company cut hundreds of jobs from its Azure for Operations and Mission Engineering teams. Finally, at the start of July, an unknown number of Microsoft workers were also cut from the company.
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