Meta «потроїла бонуси для керівників. Facebook / Depositphotos
To party like that, Mark Zuckerberg thought, and tripled bonuses for Meta executives — it would have been fine if ordinary employees hadn’t already faced layoffs and option cuts.
Meta’s board of directors, as reported by CNBCamid a 47% rise in shares and a 21% increase in revenue, approved an increase in target bonuses for top executives from 75% to 200% of base salary. The decision is explained by the fact that their total cash compensation was «at or below the 15th percentile» among competitors, and will now reach approximately «the 50th percentile».
It is fair to mention that the increase will not apply to Mark Zuckerberg himself, as well as the fact that he had announced a series of large-scale layoffs a week earlier — from dismissal of 5% (about 4,000) «inefficient» employees, as well as reduced the stock option program by 10% for thousands of those who remained in the company (the reduction of options will vary depending on where the employees live and their positions in the company).
Zuckerberg noted that the layoffs are aimed at inefficient employees and will help optimize the company’s operations in a «busy year», as well as invest heavily in artificial intelligence. At the same time, some employees stated that they had received «scores in line with or above expectations in Meta reports, so the dismissal notices took them by surprise.
«When I received the dismissal email, I was surprised, mainly because I have a very good performance history», — said one of the employees.
Later in the commentary Business Insider a Meta spokesperson said:
«Just because someone has met or exceeded expectations does not mean that they continue to meet the bar. Meta employees have always been responsible for the target culture of high performance».
Earlier, Meta has abandoned «outdated» diversity programs (DEI) due to «changing political landscape».