Meta has announced a significant increase in executive bonuses, raising them to 200% of base salaries just a week after laying off 5% of its workforce.
In a recent SEC filing, the company justified the move as a strategy to stay competitive with major tech firms like Amazon and Apple. Executives including Susan Li, Christopher K. Cox, Javier Olivan, and Andrew Bosworth will benefit from this increase.
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Despite the bonus hikes, Meta CEO Mark Zuckerberg remains outside the bonus structure, though he received $24.4 million in “other compensation” last year.
The announcement comes amid Meta’s restructuring efforts, which included laying off 3,600 employees while prioritizing hires in machine learning.
