[jsiepkes]

The only honest thing he could have said would be: "Look, in the end this about shareholder value and we need to sacrifice some people in order to create shareholder value. I know, it sucks, but let's not kid ourselves, we all knew that's the game we are playing here at Microsoft (or any publicly traded company). We got some nice perks while it lasted but unfortunately the party is over now. We will do our best to ensure everyone affected gets a fair severance package.".

Anything else is basically a lie.

[WastingMyTime89]

To be honest, it's more like:

"Look, investors have low confidence in the market right now and all our competitors are doing it. I need to send a signal or the stock is going to keep going down and I wont get my full yearly bonus. In the end it's all about the quaterly share price. I know, it sucks, but let's not kid ourselves, we all knew that's the game we are playing here: go work for a small company if you want long term strategy. We might buy you when you are done innovating. You can always come back next year if it's a hiring market anyway."

[sebazzz]

"Also, we're Microsoft so just like any FAANGM the hires will just keep coming anyway, so not like we have to worry that no one will work for us. We will just trim the bottom X% performing people and anyone determined to be too difficult to work with."

[Apocryphon]

“Don’t worry, the next time the market booms, we’ll be sure to do the same dang ol’ thing again.”

[willcipriano]

I'd add "Signed, A shareholder"