'Terrible look': Company criticized for holding 'intimate gathering'
Right before announcing layoffs, executives of tech giant Microsoft were treated to an evening with musical artist Sting in Davos, according to a report.
The Wall Street Journal reported that Microsoft hosted an "intimate gathering of 50 or so people, including the company's executives," who were in Davos for the World Economic Forum.
The gathering held the evening of Jan. 17 included a performance by English musician Sting.
The WSJ report came the day before news that Microsoft would lay off 10,000 employees dropped on Jan. 18.
"Today, we are making changes that will result in the reduction of our overall workforce by 10,000 jobs through the end of FY23 Q3," said CEO Satya Nadella in a blog post.
Laid-off employees would receive "above-market" severance pay, continuing healthcare coverage for six months, continued vesting of stock awards for six months, career transition services, and a 60-day notice prior to their termination, according to the CEO.
"We know this is a challenging time for each person impacted. The senior leadership team and I are committed that as we go through this process, we will do so in the most thoughtful and transparent way possible," Nadella said.
But reports of the intimate gathering drew flak on social media, as people criticised the tech giant's event right before the announcement of layoffs.
"Hey @Microsoft. How much money did you pay Sting to play for your executives hours before laying off thousands of employees?" one user posted on Twitter.
"Terrible look for Microsoft. Should worry the shareholders that the top brass couldn’t do better than Sting," another user shared on Twitter.
Massive corporations across the world started announcing layoffs and hiring freezes last year, while attributing their decision to the economic slowdown. These companies include Meta, Amazon, and Disney.
