Meta approves bonuses of up to 200% of company executives' salaries as it trims stock awards for employees
Meta approves bonuses of up to 200% of company executives' salaries as it trims stock awards for employees
www.businessinsider.com 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.
Summary
Meta has approved a compensation plan allowing executives to receive bonuses of up to 200% of their base salary, according to an SEC filing.
The decision follows Meta’s announcement to cut about 4,000 jobs, roughly 5% of its workforce.
The company also reduced annual equity refreshers for employees by approximately 10%.
Meta justified the executive pay increase by stating that their cash compensation was below market rates.
