Meta Approves Bonuses of as much as 200% for Executives Amid Layoffs

• Meta accredited a plan that will permit executives to earn a bonus of as much as 200% of their base pay.
• The transfer comes the identical month the corporate goals to cut back its workforce by about 4,000 workers.
• Meta CEO Mark Zuckerberg has stated the corporate is targetting low-performing workers.

Meta accredited a plan that might give firm executives a bonus of as much as 200% of their base wage, based on an SEC submitting submitted on Thursday.

The corporate stated within the submitting that the bonus plan gives “variable money incentives” designed to “inspire its government officers to deal with firm priorities and to reward them for firm outcomes and achievements.”

The plan would improve the bonus bundle from 75% to 200% of its base pay, the corporate stated.

The bonus increase wouldn’t apply to Meta CEO Mark Zuckerberg. This isn’t an unusual observe since chief government compensation might be structured otherwise, focusing extra on inventory choices.

A Meta spokesperson didn’t instantly reply to a request for remark.

The bonus increase comes amid one other spherical of layoffs this month at Meta, concentrating on 5% of its workforce which might quantity to almost 4,000 workers.

Zuckerberg stated the cuts had been meant to focus on “low-performers” as firm appears to be like to streamline its operations in “an intense 12 months” and make investments closely in synthetic intelligence.

However some employees who had been fired beforehand advised Enterprise Insider that they had been caught off guard by the transfer as a result of that they had not too long ago been given an “At or Above Expectations” scores in Meta’s midyear critiques in 2024.

“Once I obtained the e-mail I used to be shocked by it largely as a result of I’ve a really stable efficiency historical past and no indicators of the final six months of efficiency issues,” one employee impacted by the layoffs stated.

“Just because somebody had a historical past of assembly or exceeding expectations, doesn’t imply they proceed to persistently meet the bar,” a Meta spokesperson beforehand advised BI in an e-mail. “Staff at Meta have at all times been held accountable to a goal-based tradition of excessive efficiency.”