Microsoft Will Not Raise Salaries For Employees This Year

Microsoft Corporation is decreasing the budget for bonuses and stock awards and won't increase salaries for full-time employees this year, according to an internal email by chief executive Satya Nadella, as reported by Insider.

Amid a turbulent economy and slowing growth, Microsoft announced layoffs of 10,000 workers in January, adding to the tens of thousands of job cuts across the technology sector.

Microsoft is now focused on generative AI, viewed as a promising sector by the industry.

The company is incorporating OpenAI's AI technology into its Office products and search engine Bing. The ChatGPT maker has received substantial funding from Microsoft.