By Admin 
Microsoft Layoffs: Microsoft has announced the layoff of about 4,800 employees worldwide. This is approximately 2.1 percent of the total employees of the company. According to the report of Business Insider, the company has also announced a relief package for the affected employees. In this package, various types of financial assistance, health facilities and other benefits will be provided on the basis of service period and position, so that the employees can get financial and social support for some time after leaving the job.
Payment will be given according to service period
According to the report, the employees affected by retrenchment will be given severance pay as per their service period and post. Many employees can get a maximum of 39 weeks of basic salary. The method of payment has been kept different for employees working at different levels of the company. A separate compensation scheme has also been prepared for senior officers, the benefits of which will be available to the eligible employees as per the terms and conditions set by the company.
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You will also get the benefit of stock and health insurance
Apart from financial assistance, eligible employees will also continue to get benefits related to company shares for some time. Along with this, health insurance facility will also continue for six months. If needed, employees will also be able to choose to extend the health insurance coverage for an additional period. The company says that this arrangement has been made with the aim of providing relief to the employees till they get a new job and to reduce the financial pressure.
Decision taken amid changing business
Microsoft says that this decision has been taken in view of the changing technology and business needs. The company is currently investing extensively in Artificial Intelligence (AI) related infrastructure and new technologies. Under this strategy, changes are being made in many departments to reduce expenses and make better use of resources, which has affected thousands of employees and such changes may continue in future also.
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