Under the latest plan, Meta executives could be awarded bonuses of up to 200% of their base salaries. A week earlier, parent company Facebook laid off 5% of its staff.
Meta executives are set to get big bonuses this year. Meta has approved a plan to increase bonuses for its executive team, according to a filing with the U.S. Securities and Exchange Commission (SEC). Executives can receive bonuses of up to 200 percent of their base salary, up from the current 75 percent.
The new plan does not apply to Meta CEO Mark Zuckerberg.
A Meta board of directors approved the change on Feb. 13 after determining that total executive compensation was equal to or lower than other companies in the same industry.
The plan was revealed just a week after Meta began laying off 5% of its workforce, targeting its lowest performers. The company also reduced stock options by about 10% for tens of thousands of employees, depending on where they live and their position within Meta, according to the Financial Times. Each year, Meta employees will receive a number of shares in addition to their salaries and bonuses.
Meta shares are trading at a record high after a 20-day winning streak, the longest streak ever recorded among the seven largest U.S. tech companies. Meta shares are up nearly 50% over the past year.
In a recent earnings report, Zuckerberg predicted that 2026 will be a stressful year and Meta will invest more in AI to become the leader.
In 2023, which Zuckerberg called “the year of efficiency,” tens of thousands of Meta employees were laid off.
(According to FT, CNBC)
Source: https://vietnamnet.vn/meta-tang-thuong-cho-lanh-dao-sau-khi-sa-thai-5-nhan-vien-2373567.html
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