I was at Microsoft when the pandemic hit. Amy Hood told all of the employees that they were not going to rush into hiring (unlike many competitors) because they wanted sustainable growth. Hiring people to deal with a spike in demand and then firing them when the spike subsides would be bad for everyone, she said.
Since then, Microsoft has got rid of about 20% of the workforce. That counts only people in the big redundancy rounds. A lot of people I respected left voluntarily and they ended the policy that orgs reclaim headcount when people leave and so can hire replacements: if someone left, you needed to explicitly request *new* headcount from your management to get a replacement. A lot of the folks who left had their role filled by promoting someone else, who was then not replaced.
The culture of lying to management means that the senior leadership has *no idea* how under resourced most of the critical revenue-generating business units are. Anyone who tells them anything other than ‘everything is great, I bet we don’t even need all of the people we have!’ gets a reduced bonus and learns not to do it again.
The company reminded me of a dead oak tree. It looks strong from the outside but a single storm could knock the whole thing down.