Facebook genitor institution Meta precocious announced that it approved bonuses of up to 200% for the company's executives.
In a filing with the Securities and Exchange Commission (SEC) dated Feb. 13, Meta said that its Compensation, Nominating and Governance Committee (CNGC) approved an summation successful the people bonus percent for named executives different than CEO Mark Zuckerberg.
The alteration increases bonuses from 75% of the named enforcement officer's basal wage to 200% of their salary, and would commencement taking effect with the company's 2025 yearly show period.
"In approving this increase, the CNGC considered that the people full currency compensation for the named enforcement officers (other than the CEO) was astatine oregon beneath the 15th percentile of the people full currency compensation of executives holding akin positions astatine the adjacent radical of companies that the Company benchmarks against for enforcement compensation purposes," Meta said.
META CEO MARK ZUCKERBERG SAYS 'EVERYTHING I SAY LEAKS' FROM INTERNAL MEETINGS: 'IT SUCKS'
With the change, the full currency compensation for the non-CEO executives astatine Meta "falls astatine astir the 50th percentile of the Peer Group Target Cash Compensation."
The higher bonuses travel aft Meta signaled successful mid-January that it would cut 5% of its workforce based connected performance. Zuckerberg said successful a memo, "I've decided to rise the barroom connected show absorption and determination retired low-performers faster."
"We typically negociate retired radical who aren't gathering expectations implicit the people of a year, but present we're going to bash much extended performance-based cuts during the year," helium said.
META CUTTING 5% OF WORKFORCE BASED ON PERFORMANCE
Meta said that it is readying to scope 10% of "non-regrettable" attrition earlier the extremity of its existent show cycle. That fig includes astir 5% non-regrettable attrition from 2024, according to the memo.
Meta, which is besides the parent institution of Instagram, WhatsApp and Oculus successful summation to Facebook, has seen its banal emergence by astir 14.8% since the commencement of the year.
Last month, Zuckerberg said the institution is readying to put up to $65 cardinal successful the company's artificial quality (AI) initiatives.
GET FOX BUSINESS ON THE GO BY CLICKING HERE
He wrote successful a station connected Facebook that 2025 "will beryllium a defining twelvemonth for AI," and said helium expects the company's "Meta AI volition beryllium the starring adjunct serving much than 1 cardinal people, Llama 4 volition go the starring authorities of the creation model, and we'll physique an AI technologist that volition commencement contributing expanding amounts of codification to our R&D efforts."
English (US) ·