Microsoft to lay off 4,800 employees while expanding AI investments
Business
Microsoft is letting go of 4,800 employees, about 2.1% of its global team, as part of a plan to streamline things. The biggest impact is on sales and Xbox teams.
Even with these cuts, Microsoft's doubling down on artificial intelligence this year, planning major investments in AI and data centers.
US layoffs include 60 days pay
Laid-off US employees get at least 60 days' base pay, with some getting up to 39 weeks depending on their role and time at the company.
Folks at lower levels (64 or below) receive one week's pay for every six months they've worked; those at higher levels (65-67) get two weeks per six months.
Stock will keep vesting for up to a year, and Microsoft will cover health insurance for six months before COBRA kicks in.