This has been the exact opposite of my experience, as a current MSFT employee. Every single policy in the past 3-4 years has been geared towards INCREASING time off, work/life balance, job satisfaction, etc.. You could definitely take a cynical view towards this change, and I definitely did towards most policies when I first started. However, MSFT has shown me time and time again that they are standing behind their policies to improve our overall satisfaction.

And why the hell wouldn't they? In a job market with a global shortage of talented developers, not to mention in a sector that can take 3-6 months to get a worker "productive", it's in their every interest to retain talent. It's a mutually beneficial relationship, imo.