Microsoft’s chief advertising officer has an answer for employees pissed off with the corporate’s resolution to put off raises: make the stock worth go up.
According to a report on Wednesday from Fortune, CMO Chris Capossela wrote in a message to employees that “the most important lever for almost all our employees’ compensation upside is the stock price.” Capossela cashed out $1.55 million price of Microsoft stock earlier this month and bought one other $2.85 million final week.
“So great quarterly results contribute to making the stock attractive which in turn drives everyone’s total compensation up,” Capossela tells employees in a message seen by Fortune. “We are still investing heavily in our people as well as in our data center capacity to hopefully position us well for the Al transformation.”
Even as Microsoft continues to pour more cash into synthetic intelligence and its $68.7 billion acquisition of Activision Blizzard, CEO Satya Nadella informed staff final week that it gained’t provide raises for salaried employees this 12 months, citing “macroeconomic uncertainties.” He additionally said that he, together with the opposite members of the senior management workforce, gained’t get raises or performance-based bonuses, both. Microsoft additionally introduced layoffs affecting 10,000 employees earlier this 12 months.
In a press release to Fortune, a Microsoft spokesperson says Capossela’s “sale is part of Chris’ personal planning and does not reflect any change in his dedication to the company’s success.” Microsoft didn’t instantly reply to The Verge’s request for remark.
…. to be continued
Read the Original Article
Copyright for syndicated content material belongs to the linked Source : The Verge – https://www.theverge.com/2023/5/19/23729711/microsoft-cmo-staff-stock-price-pay
