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Meta approves massive bonuses for executives after broad layoffs
Meta has approved large bonus options for executives, up to 200 percent in some cases. It has also decreased stock awards for regular employees.
A committee for Meta’s board of directors approved the change on February 13, on the grounds that the “target total cash compensation” for its executives “was at or below the 15th percentile of the target total cash compensation of executives holding similar positions” at rival companies. Meta has also decided to slash its annual distribution of stock options by around ten percent for thousands of its regular employees, according to a report by The Financial Times. The exact reduction could differ depending on where the employees live and what they do, but Meta hasn’t commented further on the decision.
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