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Meta raises executive bonuses by up to 200% after cutting 5% of its workforce
According to an SEC filing submitted yesterday, Meta has approved an increase in the target bonus percentage for its annual bonus plan for executives.
The filing states the Compensation, Nominating & Governance Committee of the Company's Board of Directors approved the plan on February 13. While Meta claimed only low-performing workers were being laid off, Business Insider reported that several employees who said they received positive performance ratings in their midyear reviews last year lost their jobs. Eight terminated employees said they received "At or Above Expectations" ratings – the middle tier in Meta's three-level midyear review system – in their 2024 assessments.
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