Microsoft CEO Satya Nadella announced that the company will not offer salary increases to its full-time employees this year, citing efforts to reduce costs as revenue growth slows and clients cut back on spending. The move comes after the tech giant nearly doubled its budget for merit increases and boosted stock allocations for certain employees last year amid inflation. Nadella said that Microsoft will maintain its bonus and stock award budget, but it will not overfund to the extent it did last year. The CEO also highlighted the company's focus on capitalizing on the growing artificial intelligence market.