Meta executives to receive bigger bonuses following company layoffs
Meta approved a new executive bonus plan after announcing plans to lay off 5% of the company.
Last week, Meta began plans to lay off 5 percent of its workforce, representing over 3,600 employees. This week, the company internally approved a plan to increase bonuses for executives sans Mark Zuckerberg.
Meta published a corporate filing this week that was spotted by CNBC. In it, the company announced that it had “approved an increase in the target bonus percentage under the Bonus Plan for each of the company's named executive officers.” However, these increases will not apply to CEO Mark Zuckerberg.
Source: Meta
The decision was made on February 13th and came after Meta’s board of directors compared its bonus compensation to executives in similar roles at other companies.
This announcement comes just a week after Meta began its plan to lay off over 3,600 workers. The planned layoffs were announced in January, with CEO Mark Zuckerberg saying that 2025 would be an “intense year.”
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replyDonovan Erskine posted a new article, Meta executives to receive bigger bonuses following company layoffs
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This move raises questions about the company's priorities and the message it sends to both its workforce and the public. While aligning executive compensation with industry standards is common practice, the timing of this decision appears insensitive, especially to those affected by the recent layoffs. <a href="https://www.sidingcoquitlambc.com">https://www.sidingcoquitlambc.com</a>
