Microsoft Corp. said it plans to “nearly double” its budget for employee salary increases and boost the amount of stock compensation it gives some workers by at least 25 percent, in an effort to retain staff and help people cope with inflation.
The move, effective in the fiscal year beginning July 1, will mainly affect “early to mid-career employees,” the software firm said in a May 16 statement to employees, obtained by Bloomberg News.
Microsoft’s salary package is made up of base salary, bonus and stock. The changes will apply to a substantial part of the company’s workforce, which stood at 181,000 as of June 2021.
