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Meta approves bonuses of up to 200% of company executives' salaries as it trims stock awards for employees
Meta approved a plan to increase bonuses for company executives to up to 200% of their base pay amid layoffs targeting about 4,000 employees.
Meta approved a plan that could give company executives a bonus of up to 200% of their base salary, according to an SEC filing submitted on Thursday. Meta also recently trimmed the value of annual equity refreshers some staffers receive by about 10%, according to two people familiar with the matter who spoke with BI but asked not to be identified as they weren't authorized to speak with the media. Zuckerberg said the cuts were meant to target"low performers" as the company looks to streamline its operations in "an intense year" and invest heavily in artificial intelligence.
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