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

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

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

The corporate stated within the submitting that the bonus plan gives “variable money incentives” designed to “encourage its govt officers to concentrate on firm priorities and to reward them for firm outcomes and achievements.”

The plan would enhance the bonus package deal from 75% to 200% of its base pay, the corporate stated.

The bonus enhance wouldn’t apply to Meta CEO Mark Zuckerberg. This isn’t an unusual follow since chief govt compensation might be structured in a different way, focusing extra on inventory choices.

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

The bonus enhance comes amid one other spherical of layoffs this month at Meta, concentrating on 5% of its workforce which might quantity to just about 4,000 staff.

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

However some staff who have been fired beforehand informed Enterprise Insider that they have been caught off guard by the transfer as a result of that they had lately been given an “At or Above Expectations” rankings in Meta’s midyear evaluations in 2024.

“After I acquired the e-mail I used to be stunned by it largely as a result of I’ve a really strong 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 constantly meet the bar,” a Meta spokesperson beforehand informed BI in an electronic mail. “Staff at Meta have all the time been held accountable to a goal-based tradition of excessive efficiency.”