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FutureStarrMicrosoft Job Cuts Exceed 2700 in Seattle Region
Microsoft job cuts in the Seattle region now exceed 2700 since their announcement to cut 10,000 positions worldwide.
These cuts come amid a generalized downswing across the tech industry. They occur as both consumer and corporate spending slow down.
Microsoft announced Wednesday that they will eliminate 10,000 jobs, or approximately 5% of their global workforce. Additionally, the Seattle-based firm plans to make changes to their hardware portfolio and consolidate leased office locations.
This move comes as many other tech companies have scaled back their pandemic-era expansions due to recession fears and a drop in consumer demand for workplace software and cloud computing services. Companies such as Yahoo, Google and Facebook parent Meta have all laid off large numbers of employees recently, along with several smaller tech firms.
Although some job cuts are the result of the recession, others can be attributed to slowing revenue growth and uncertain macroeconomic conditions. Last month, Amazon and Salesforce both announced major reductions in staff numbers as they trim payrolls that had grown rapidly during COVID-19 pandemic lockdown.
Yahoo announced another plan to reduce 20% of its staff by the end of this year - potentially impacting over 1,600 workers. The restructuring is intended to streamline the company's advertising technology business unit and reallocate funds more effectively, according to media reports.
Zoom, a cloud-based videoconferencing service, announced it will let 15% of its global staff go - including some members of its leadership team. The decision is due to slow e-commerce trends and an overall slowdown in the economy, according to Zoom.
These cuts follow earlier decisions by tech titans Amazon and Twitter, who cut 208 and 97 workers respectively in the Seattle region last year. Meanwhile, enterprise data management firm Informatica announced plans to cut 7% of its staff, while software development and version control provider GitHub plans on laying off 10% of its employees by 2023.
According to The Associated Press, as more tech companies refocus their operations and prioritize core competencies, the number of employees at some of the world's largest employers has significantly declined in recent years. Companies such as Microsoft and Alphabet - Google's corporate parent - have been forced to reduce hiring in an effort to balance budgets.
Microsoft, headquartered in Redmond, Washington, is one of the state's top 10 employers with more than 50,000 employees. Its local presence includes over 4,000 staff members across Western Washington - including Redmond and Bellevue.
Microsoft job cuts surpass 2700 in the Seattle region, prompting concern about how employees will be retrained. In these uncertain economic times, employees often need to retrain in order to find new positions within or outside of their industry.
Retraining employees is an effective way to keep them engaged and excited about their job. It provides them with new skills that will enhance their current role or open the door for more exciting and challenging positions in the future.
When retraining employees, it's essential to understand their objectives and desired outcomes from the program. This allows you to determine which type of training will most benefit them and provide the necessary tools for successful delivery.
Retraining programmes should be broken down into modules, to guarantee employees are working in the correct areas and receiving enough instruction from them. Once the process is complete, evaluate it to make any necessary improvements as needed.
In addition to retraining, employees will also gain more flexibility around their holidays. Instead of the four required days off per year, employees can take unlimited days off and use them for illness, mental health issues, bereavement or jury services.
Microsoft recently made a significant shift from their four-week holiday policy for US salaried employees, which had previously been implemented annually. This cost-saving measure will save them money and enable them to retain staff more easily.
Managers must be able to support their employees as they retrain and adjust to hybrid work arrangements. This includes setting clear objectives and priorities, guiding them through how their roles have shifted since they started, and helping them comprehend how they can demonstrate compassion towards colleagues.
With the shift to remote work, it is essential to consider its effects on hiring and onboarding. Without informal access to their peers as traditional jobs provide, hiring managers must provide extra one-on-one time and support when new hires start. Doing so will guarantee they feel valued and motivated to excel in their new roles.
Microsoft is one of the many large tech firms that has laid off thousands of employees due to the slowing economy, and many workers will now receive severance pay as a result.
Severance pay is a period of pay provided to employees after they are laid off, in accordance with various laws. This ensures workers do not end up in an unemployment pool and have time to look for another job. Furthermore, companies use severance pay as a way to diffuse potential issues and protect themselves legally from lawsuits.
Recent mass layoffs at large tech firms such as Amazon, Alphabet (the parent company of Google) and Meta have occurred; employees receiving severance packages varying in size and duration depending on the company and employee status. These can range anywhere from a few weeks of base pay to up to two months depending on the circumstances.
For instance, severance packages tend to be more generous for executives than entry-level workers. Furthermore, some severance packages even include stock options which may be worth more to an employee than salary alone.
Some tech companies offer severance packages with additional benefits like health insurance and career transition services to reduce employee anger or assist workers in finding a new job. These can help soothe employee resentment or provide workers with assistance finding another position.
Companies must give employees 60 days' notice prior to a layoff in order to give them enough time to search for another job and prevent an unexpected financial hardship.
Employers typically provide severance pay to employees who have worked for the company longer than two years. Usually, this severance package equals their annual salary at termination.
Other benefits of the Microsoft severance package may include health care coverage for six months, continued vesting of stock awards for six months and career transition services. The final payment will be made in a lump sum within 60 days after termination.
Experts note that while not legally required to offer severance packages, it is a widely practiced practice among tech companies. This protects them from liability and helps diffuse any potential hard feelings while employees search for new employment. Furthermore, experts say it ensures employees have enough money to live off after being laid off.
Bonuses offer employees the chance to make additional money beyond their base pay. They're typically given out as part of a performance-based incentive or to reward someone for staying with the company over an extended period. But before receiving any bonuses, there are a few things to consider:
Bonuses are generally discretionary, meaning it's entirely up to the employer whether or not they wish to give them out. The best way to find out exactly what you're entitled to is by asking your manager.
Performance-based bonuses reward employees based on their work performance and overall contribution to the company. While these rewards may differ for different employees, they help boost morale among staff members and keep them motivated to do their jobs well.
Some companies divide bonuses based on how much effort an employee puts into achieving a specific project or goal, while others give all employees the same amount. Unfortunately, this practice may cause friction among staff members since some may feel as if they didn't put as much effort into their job as other workers did.
Many bonuses are performance-based, but some companies also give out noncash rewards like parking spots or extra days off work. These can be great options for companies that don't want to spend too much on employees; however, be sure to understand the IRS regulations prior to accepting a noncash bonus.
If you're a new employee, it is important to understand what bonuses will be awarded when signing your employment contract. Most bonuses come with a clause stating that if you leave before an agreed upon period of time, these funds must be repaid to the company.
The bonus should be a legitimate financial reward for employees' efforts in meeting specific objectives, and structured so that all workers have an equal opportunity to earn it. Furthermore, higher bonuses should be more difficult to attain and necessitate greater effort on behalf of workers in order to receive them.