India, July 25 -- Microsoft CEO Satya Nadella sent a memo to his employees on Thursday explaining why the company laid off thousands of staffers despite increased investments and recognition.

Microsoft has laid off more than 15,000 people so far this year. It also cut around 2,000 additional staff who were assessed as underperformers.

Over the last three fiscal quarters, Microsoft's net income has totalled around $75 billion, Business Insider reported. The company is also spending $80 billion on investments for artificial intelligence (AI) infrastructure.

Microsoft's stocks have also been on an upward trajectory, with the closing price hitting a record of over $500 for the first time on July 9.

"Before anything else, I want to speak t...