PremiumListen to this article |
In a bid to realign staffing priorities, Microsoft will slow hiring in its Windows, Office and Teams chat and conferencing software group, the company announced on Thursday. The new hires, now, will have to be approved by Executive Vice President Rajesh Jha and his leadership team.
Microsoft spokesperson said, these groups have expanded recently and the company wants to make sure it’s making the right hires in the right places. The spokesperson further notified that the slowdown in hiring is not a companywide phenomenon, overall the software maker will continue to hire.
“As Microsoft gets ready for the new fiscal year, it is making sure the right resources are aligned to the right opportunity," the company said in a statement. “Microsoft will continue to grow headcount in the year ahead and it will add additional focus to where those resources go." The company’s fiscal year starts July 1.
The spokesperson also said that such caution is typical in periods of economic volatility.
Apart from Microsoft, other big technology companies have also initiated hiring freeze as fears of an economic recession escalate. Chipmaker Nvidia Corp. said Wednesday it expects to decelerate hiring in the second half of fiscal 2023, and companies such as Meta Platforms Inc., Snap Inc. and Salesforce Inc. have taken similar steps.
Earlier this month, Microsoft said it will nearly double its budget for salary increases and bRead more: Sequoia Capital tells startup founders tech is having a ‘Crucible Moment’oost stock grants in order to better retain key workers.
