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CEO Satya Nadella said that the move is necessary for generating enough yield to focus on investing majorly towards shifting to AI. However, The company will still raise its rates for workers employed on an hourly basis. At the same time, they will also maintain bonuses and stock award programs at the same rate.
This year, Microsoft also cut thousand of its workforce like other major tech firms. However, In 2022, quarterly sales and profit topped expectations. Today, Microsoft is also making some big bets on AI. They even made an investment in Open AI and Bing Internet search Chatbots. Which is one of their strategy to enhance sales in Azure cloud services.
While explaining his reason for the salary freeze he reportedly also stated that critical decisions are required to make major platform shifts while navigating a dynamic environment. Now, Microsoft has become that US tech leader to place a tight grip on due to some uncertainties.
Still, Microsoft aims to head towards leveraging the use of AI. This will drive future growth and maintain competition in the industry.
Microsoft has also invested in Builder.ai. But, As of now, no disclosure of the funding amount is there both companies wish to collaborate on solutions for empowering businesses by developing applications.
- Kratika Agarwal
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