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- Meta approved a plan that would allow executives to earn a bonus of up to 200% of their base pay.
- The move comes the same mon...
Meta Executives Set to Receive Bonuses Amid Layoffs
Bonus Plan Approved, Focused on Performance
Meta Platforms Inc. ("Meta") has approved a bonus plan that may grant executives bonuses of up to 200% of their base salary. According to an SEC filing, the plan aims to align incentives with company goals and reward executives for their contributions.
Aggressive Layoffs Target Underperformers
This executive bonus approval coincides with Meta's announcement of layoffs affecting nearly 4,000 employees, representing 5% of its workforce. Meta CEO Mark Zuckerberg emphasized the layoffs' focus on low-performing employees, aiming to optimize operations in the face of challenges and increase investment in artificial intelligence.
Unexpected Terminations Raise Questions
Despite Meta's claims, several previously affected employees expressed surprise at their dismissals. They had recently received positive performance reviews. Meta maintains that performance expectations are continually reassessed and employees must maintain a high level of output.
CEO Excluded from Bonus Boost
Meta CEO Mark Zuckerberg is excluded from the bonus boost, aligning with common practices where chief executives often have unique compensation structures prioritizing stock options.
Focus on AI and Streamlining Operations
The executive bonuses and layoffs reflect Meta's strategic shift towards artificial intelligence and streamlining operations in a demanding business environment.
