Company extends one-time performance-based cash reward
Microsoft will be extending a one-time performance-based cash reward to employees in a bid to recognise them for a good fiscal year, according to reports.
Kathleen Hogan, Microsoft's CPO, said salaried and hourly workers at the senior director level and below will be covered by the cash reward, CNBC reported.
According to the report, which cited Hogan's memo, junior-level employees will receive up to 25% of their annual bonus, while senior directors will receive up to 10%.
Hogan said in the memo that this was the tech giant's way to recognise staff for a good fiscal year, after revenue went up by 16% according to its latest earnings release.
"Our strong performance this fiscal year speaks both to our innovation and to the trust customers continue to place in Microsoft," said Satya Nadella, chairman and chief executive officer of Microsoft, in a statement.
"As a platform company, we are focused on meeting the mission-critical needs of our customers across our at-scale platforms today, while also ensuring we lead the AI era."
The bonus also came after Microsoft reportedly froze the salary increase of full-time employees and laid off 10,000 employees in the previous year.
Nadella attributed the job cuts last year to its strategy of aligning cost structure with revenue and customer demand.
