Meta hikes top executives' bonus up to 200% a week after laying off 3,600 employees: Report
After laying off 5% of its workforce, Meta executives may receive bonuses significantly higher than previous years.
A week after it began laying off 3,600 employees for “low performance”, Meta is expected to offer giant bonuses to its executives this year, it said in a recent corporate filing, according to a report by Moneycontrol.
The tech giant stated that its executive officers, not including CEO Mark Zuckerberg, could earn a bonus of 200% of their base salary, This is in comparison to the 75% they used to earn previously.
"On February 13, 2025, the CNGC approved an increase in the target bonus percentage under the Bonus Plan for each of the Company's named executive officers (other than its Chief Executive Officer (the "CEO")) from 75% of each such named officer's base salary to 200% of each named executive officer's base salary, effective beginning with the 2025 annual performance period under the Bonus Plan," Meta said in its filing, the report said.
Bonus on par with rivals
The board of directors committee at Meta has approved the hike in bonuses comparing compensation at rival companies. The committee said the "target total cash compensation" for its executives "was at or below the 15th percentile of the target total cash compensation of executives holding similar positions" at rival companies.
"Following this increase, the target total cash compensation for the named executive officers (other than the CEO) falls at approximately the 50th percentile of the Peer Group Target Cash Compensation," the filing stated.
Last week, after Meta began to lay off 5% of its workforce around the world, social media was filled with angry reactions. "Executives always think they are deserving of more money, regardless of their performance. And they rarely think regular workers are deserving of more money," one user wrote.
Another user said, "Always more for the top, less for workers. Meanwhile, thousands are out of work looking for opportunities. I wish we could easily avoid Meta, but it's hard to avoid in this social media era."
Amid this, former Meta employees have called the tech giant the "cruelest" tech company, claiming that the layoffs were "more about money than performance" alleging that they were fired not for poor performance but for taking leaves.
(Also read: Elon Musk claims supremacy of Grok over Meta AI, ChatGPT with meme)
