Microsoft says staff layoffs not linked to recession fears Microsoft has laid off more than a thousand staff, classifying this as a sort of summer clean-up following closure of the latest financial year. The job losses, first reported by Bloomberg, impact less than 1 percent of the 180,000-strong global workforce, and are said to be varied across geography and job role, including …
Sure tech workers make more money than someone flipping burgers, but thanks to inflation, wage stagnation and increasing progressive taxes, the gap is narrowing.
Net profit was up to $55.9 billion
Workers have produced $55.9 billion profit and as a thank you gesture they get a kick in the teeth rather than having a piece of that pie.
It's a matter of time when selling weed will become a more sought after profession than engineering...
Is it just me, or does $US 311K profit per employee sound a little low for a software company? I'm not exactly weeping for Mister Softee here, but what's going on in there? And yes, they really would be better off with a hemp license...
I guess they haven't really been a straight up software company for a long time.
If you want to be pedantic, then know that big corporations like Microsoft can declare profits as they see fit - i.e. to make the tax man happy and at the same time don't pay excessive tax. Any profit over the desired amount can be shifted offshore to tax havens and creatively accounted for.
IIRC they stopped that a while back. The current issue that is causing Microsoft, Google, ect to lay off employees is that for the past few years they have had a policy of deliberately over hiring in order to deprive competitors and startups of talent.
That's why silicon valley companies have had all those silly policies like getting to spend time in a ball pit or work on your hobbies at work, because if everyone was fully productive all the time they would run out of work to do.
Now the changing economic situation has made all of that unsustainable and they are culling all the people they don't need.
As I remember, they did that for a few years in the 1990s and discarded it as a really bad idea, but this was still a massive problem for two reasons. Everyone's heard the story about them and thinks it might still be true even though it's been decades. Also, other companies actually still do it, and I wouldn't be surprised to hear that a famous name like Microsoft was used to convince them to start. From the article on Facebook published today, it looks like it is the standard procedure for them and will now be used for firings.
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