Meanwhile, Microsoft’s chief marketing officer Christopher Capossela told employees angry about the lack of salary raises that their best way to increase their pay is to make the stock go higher—after cashing out $4.4 million worth of stock.
Classy.
this post was submitted on 30 Aug 2023
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This is so backwards. I had to read this a few times to try to make sense of the memo. Apparently, the reasoning is that instead of telling employees that they didn't get a raise because of company-wide cuts, try to convince them that they just did a bad job?
That's stupid. That would obviously have the opposite effect of softening the disappointment. Whoever wrote this memo is an idiot who has no idea what employees do or what they think.
It's only stupid if you think Microsoft wants to retain employees.
The tech industry is contracting after over expanding during the pandemic and, instead of layoffs, MS is hoping to get to their budget cuts by attrition.
What I don't get about this is that presumably you'd lose more of the high performing employees that can find a better offer, and be left with people who can't afford to lose their job (no hate to them, these are human beings, but what I'm trying to point out is that the people who will quit will be the people with the most experience and other job prospects)
Seems counter-productive long term
Upper management would have to value employees for this to make sense.
Apparently, the reasoning is that instead of telling employees that they didn’t get a raise because of company-wide cuts, try to convince them that they just did a bad job?
This is what you do if you want to encourage attrition.
They want to neg their employees, sounds like.
How did big tech companies got like these? Bigger cut for owners? I remember when a person got a job in Microsoft, Google, etc, it meant that they were financial stable in a good job that didn't drain all of their energy. We need tech more than ever now. Is it because there are so many devs these days? AI? All these things all together?
Free investor money ran out with the higher interest rates. The higher interest rates that were made to combat inflation, which again are mostly because of corporate greed.
Basically wages were going up, workers were getting a bigger slice of the pie against corporate profits - not that profits were dropping mind you, just not going up as fast as wages for a bit. So corporations as a block decided that the shock from supply chain distruptions means they get to raise prices. Somehow supply chain disruptions didn't show up on the bottom line though, so they got to make record profit, but we got record inflation. The gutted governments instead of taxing the windfall profits, because they can't do that because politics, were just watching as central banks increased interest rates that clobbered wages back.
It's just the system in action, when the 200 oligarchs holding the reins in America decide the workers of the "free world" have a bit too much, they crank up prices, which decreases wages even beyond the effect of said price increases.
This is capitalism working as intended.
"Sorry, you're not getting a cost of living increase this year, but what you need to focus on is how impactful your work has been."
The reward is in thinking of all the money you're making us!
Please enjoy these photos of me and my family on the yacht you helped me afford. I hope the smiles on their faces bring you some warmth and joy inside your dank, overpriced basement apartment.
Keep up the good work!
Eat the fucking rich
Every corp knows we're in late stage capitalism. They're not even trying to hide it anymore. Any individual that makes a billion dollars should be viewed as an enemy, even millionaires should be very nervous.
What - you can't even buy a nice two-bedroom condo here for a million dollars, I think you need to re-evaluate what a millionaire is today.
I took it to mean people who earn that much per year. The average person working a $30k+ job should have more than a million in the bank at retirement, and that should have been enough to retire on comfortably. Now I'm being told it's more than 1.5-2 million dollars at retirement.
You pretty much need to be a multimillionaire to retire these days and it's not that hard to do with a half decent job and basic retirement planning, especially when factoring in a home to your net worth (which is standard). Millionaires are not the enemy. $1m is 1000x closer to $0 than $1B.
I don't disagree with the sentiment, but "get a half decent job, do basic planning, and factor in the cost of the home you definitely own" is a massive simplification and a lot of people cannot meet those requirements through no fault of their own.
Yeah, thats already proper middle class, and middle class is pretty hard for a lot of people to attain these days.
Most people are not even able to accumulate any capital while paying bills. If you‘re not in the fortunate position of a collage education or similar, you‘re pretty fucked.
Even with a college education, you’re usually fucked.
Most people talking about how to become multimillionaires have the benefit of generational wealth. Even if they’re not directly dipping in to family funds, it’s a support system that us poors don’t have.
Always have to link this comic when generational wealth comes up.
Personally I know that I'm one of the ones who lucked out. My family wasn't rich but we didn't struggle. I'd like that to be the minimum experience for everybody.
Tell me about it. Grew up poor, kicked out of school due to undiagnosed neurological stuff.
I did manage to build a company out of thin air (and working 16 hrs a day). Then covid happened. I‘m rather gonna starve than go back an suck corpo cock.
Not saying everyone can do it, just that we're all on the same side. It's important to remember who your friends are. The doctor that works 12h+ a day and has a few million in the bank is not the same as the billionaire playing God and zipping around to all major world events in their private jet while siphoning profits from thousands of workers.
That depends on which side the doctor decides to support. A few million lets you play the game, and even if you’re just a pawn, you can do some damage.
What about us hundredaires?
Check out Mr/Mrs money bags over here.
You’ll be given cushy jobs!
You have a positive balance? :o
I kinda hate how it seems like programming will be at best a 30 per hour job in the future, likely leading to me needing two jobs. Its like I just graduated and I'm kinda frustrated with the state of this industry
I spent a bunch of time in the meat grinder.
Your bosses, and you'll have many, will be dumb. Your peers will have egos, and when they finally get a promotion (probably one that doesn't include a pay increase), they'll go out of their way to stifle any creative control you might have. By the time you burn out you'll probably find that your 20's are gone, you have no 'management' experience, and companies that are hiring are only looking for 'junior programmers with 10 years experience'. Then there's ChatGPT... which I've literally heard a manager, a guy that couldn't figure out how to open a PDF to save his life, say 'why do we need developers if ChatGPT can write code?' That's a whole new thing that's happening now that I'm not sticking around for.
I personally branched out of programming and got actual experience in Electrical Engineering, and am working on a business degree. Life is better now. I get to touch grass.
I'm telling you this, because after years of working in the industry I can tell you exactly why programmers get paid six figure salaries. You have to sit in one spot for 40-60 hours a week thinking about and solving puzzles that other people just don't want to. Few people can do this. I'm not kidding when I say I most of my coworkers have some kind of autism or an Adderall addiction. And your bosses won't appreciate what you do, because they simply won't understand it.
In a sincere desire to help you not make the mistakes I made, consider front-loading any additional education you might want. Don't put it off. Push back on working additional unpaid hours. Don't go in on weekends, or work additional hours. A promotion or pay raise only exists if you have it in your hand. The people at work aren't your friends, and you don't owe them anything. You deserve respect.
I don't mean to scare you off from the field. It has been highly rewarding, and I still love working with computers, but burnout is a very real thing.
All the above is great advice, but I just wanted to add one more thing.
Be absolutely sure you move from one company to another company every couple of years, otherwise your salary will not increase and will instead stagnate, while you burn out.
Not to mention back to the office bullshit will sooner or later force me to move somewhere with a 10X cost of living.
Not to be too harsh, but welcome to the life of pretty much every other 4 year degree professional.
Cost of college keeps going up, while salary and career prospects continue to decline.
Yeah the working conditions are generally declining, it just sucks somehow the right is gonna say "WELL YOU SHOULD OF STUDIED A HIGH PAYING CAREER"
And they say degrowth can't happen. It's already happening if you're working class.
I wish I could have lived long enough to see Micro$oft go bankrupt and dissolve. They have brought nothing but toxicity to the tech community, and I've been in this game for almost 4 decades.
Literally carrot on a stick tactics