US tech giant Microsoft grew its revenues in Britain by a third to more than £8 billion last year thanks to growing demand for its cloud storage services in the UK.
The business, led globally by chief executive Satya Nadella and in the UK by Clare Barclay, grew its headcount by nearly 600 to 5,540 during the year. Its average cost per employee, including salaries, pensions and share-based payments, was £183,000 a year, up from £165,000.
The figures, for the year to June 2023, came before Microsoft committed to invest £2.5 billion over three years into the development of its artificial intelligence (AI) technology in the UK.
Microsoft’s relationship with the UK went through a rocky patch last year. The company’s president, Brad Smith,
