Meta approves massive bonuses for executives after broad layoffs

Meta has offered up a lucrative new executive bonus plan, according to a company filing released Thursday. Under the new plan, executives could earn a yearly bonus of 200 percent of their base salary, which is up from 75 percent. This comes just after Meta announced sweeping layoffs impacting five percent of its workforce.<br /> A committee for Meta’s board of directors approved the change on February 13, on the grounds that 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. It’s worth noting that the new bonus plan doesn’t apply to CEO Mark Zuckerberg. Don’t worry about his bottom line, however, as he’s worth nearly $250 billi [...]