Hey friends. Come September, Microsoft employees are going to see compensation changes — but leaked screenshots show that for some, the raises may be too little, too late.
We’ll walk you through what’s going on.
1. Microsoft is raising employees’ compensation. In an email viewed by Insider, CEO Satya Nadella told staff the company would be increasing their pay through bigger stock grants and merit increases, effective in September.
- As Insider previously reported, the company has been considering this kind of move to tamp down employee dissatisfaction and keep workers from leaving for competitors, including Amazon.
- Now, Microsoft is nearly doubling its budget to increase compensation. For some employees, that means annual stock awards are going up by a minimum of 25%. There will also be salary bumps based on performance.
- But according to leaked screenshots, some employees feel the new plan is too little, too late — and that Microsoft would still pay less than the likes of Amazon for new hires.
Everything we know about Microsoft’s pay changes.
2. Tech industry compensation is “completely unsustainable.” New analysis from Insider highlights some of the tech companies with the most expensive stock compensation — including Amazon — that are most at risk as the market plunges. See the full chart here.
3. Elon Musk says Twitter deal “cannot move forward” until bot claims are proved. Musk tweeted that his $44 billion takeover of the company would not go ahead unless Twitter can can prove bots make up fewer than 5% of users. CEO Parag Agrawal previously tried to explain the bot issue on Twitter – but musk responded with a poop emoji.
4. Block gave some workers extra stock — but not everyone got it. The company (formerly Square) offered more stock to workers whose compensation has been affected by its plunging share price. An internal memo details who got it, and who was left out.
5. Netflix could keep some movies in theaters longer before making them available to stream. According to Bloomberg,
is considering releasing some movies, like the “Knives Out” sequel, in theaters this year with a 45-day window. What we know so far.
6. Diversity-and-inclusion experts say tech layoffs could “undo what little progress has been made.” As companies brace for more layoffs, the downturn could slow or even reverse the industry’s progress in expanding employment opportunities to workers from marginalized communities. They explain how tech companies can be more thoughtful.
7. A former eBay exec pled guilty for his role in a bizarre harassment campaign. David Harville, eBay’s former director of global resiliency, admitted to his role in a 2019 scheme to harass a pair of bloggers — a plot that involved a pig fetus, porn, and a book on surviving the death of a spouse.
8. Your next Uber ride could be a party bus. Uber just announced a handful of new features, including the ability to order charter buses and electric vehicles, and
Odds and ends:
9. Get ready, Europe: A tiny solar-powered electric car is coming your way. Dubbed the Squad, the golf-cart-sized car has 62 miles of range and comes in at a mere $6,500. Check out the itty bitty EV, arriving in 2023.
10. Snap’s CEO and his wife just paid off students’ college debt. Evan Spiegel and supermodel Miranda Kerr surprised the art-school students with a massive donation during their commencement. Inside the multi-million dollar graduation gift.
What we’re watching today: