Microsoft’s CEO’s new $79.1 million pay package represents a whopping 63% increase despite a year of layoffs and cybersecurity failures.

If you’ve had a pretty good year at your current job, it’s reasonable to expect that you could get a pay increase to reflect all that hard work. And if things don’t go less than ideal, you probably expect to be paid the same or maybe even revalued for your role.

That doesn’t seem to be the case at Microsoft: despite a year of layoffs and public safety incidents, CEO Satya Nadella received a whopping 63% pay increase over the previous year.

About 90% of that stake for the year ended June was in Microsoft stock, according to the company’s latest regulatory filings (via Bloomberg). This adds up to $79.1 million, although that amount would have been $5 million more if not for personally requested salary reduction to reflect “personal responsibility” for changes resulting from the company’s previous cybersecurity issues.

In March this year, the US Government’s Cybersecurity Review Board found that Microsoft’s security practices were “inadequate” compared to other cloud service providers. Report criticized Microsoft’s actions to resolve the security breach involving a Chinese hacking group that resulted in access to the email accounts of 25 organizations (including several government agencies).

This led Microsoft President Brad Smith recognition of cybersecurity failures before the US Congress, saying at the time: “We recognize that we can and must do better, and we apologize and express our deepest regrets to those affected.”

Microsoft also admitted that it was hacked by a “Russian state-sponsored actor” known as Midnight Blizzard in November 2023, resulting in the compromise of “a very small percentage of Microsoft corporate email accounts.”

These breaches prompted the company to pledge to review its cybersecurity procedures, including the creation six priority “pillars of security” to guide the company to strengthen its security practices in the future.

The company also carried out two major mass layoffs this year, resulting in the loss of 1,900 jobs. Activision Blizzard and Xbox in Januaryfollowed by 650 further layoffs last month. Aktivizhn There was a snowstorm purchased by Microsoft for $69 billion. in October 2023, and these layoffs have since laid off more than 2,500 of its employees. Microsoft also shuttered four studios—Arkane Austin, Tango Gameworks, Alpha Dog Games and Roundhouse games this May.

So, if you are (or were) a Microsoft employee, it’s been quite a tumultuous year, but CEO Satya Nadella is still making big money. This is not quite in line with the previous salary package he received back in 2014. It is said to be worth $84 million.but I suppose all money is somewhat relative when it starts to reach such numbers.

Nadella isn’t the only Microsoft executive to get a raise in cash (or stock equivalent to cash) this year. CFO Amy Hood’s package rose 30% to $25.8 million, while President Brad Smith received a 29% increase, equivalent to $23.4 million.

Anyway, all this talk about money has made me hungry, so it’s time for lunch. Beans on toast again, huh? I think that’s enough.