You must have heard the name Meta… This company first laid off thousands of people in the name of cost cutting, and now Meta has announced to distribute up to 200 percent bonus to senior officials. This information has been given in SEC filing, the executive officers working in Meta are being given bonuses to focus on the company’s priorities and to reward them for the company’s results and achievements.
Under this plan of Meta, the company is planning to give 200 percent bonus on the base salary. The point to note here is that Meta company CEO Mark Zuckerberg will not get the benefit of 200 percent bonus. Let us remind you that earlier 75 percent bonus was given but now it has been directly increased to 200 percent.
The committee of the Board of Directors of Meta Company has approved this on February 13. Before giving the approval, it was noted that the target total cash compensation being received by the senior executives working in the company was less than 15 percent compared to those working in other companies.
Decision to reduce workforce
Meta had recently talked about reducing its workforce by 5 percent and now the company has taken the big decision of giving 200 percent bonus. Not only this, the company has also reduced the annual stock distribution to the employees by 10 percent.
Company’s growth increased by 21%
Although thousands of employees have lost their jobs in the name of reducing expenses, the company’s earnings are increasing. Let us remind you that in 2024, the shares of Meta company jumped by 47 percent. Last month in January, the company reported its fourth quarter earnings of $48.39 billion and this figure reflects a growth of 21 percent on an annual basis. Despite the growth of 21 percent, employees are being laid off.
