Summary
Meta has approved a compensation plan allowing executives to receive bonuses of up to 200% of their base salary, according to an SEC filing.
The decision follows Meta’s announcement to cut about 4,000 jobs, roughly 5% of its workforce.
The company also reduced annual equity refreshers for employees by approximately 10%.
Meta justified the executive pay increase by stating that their cash compensation was below market rates.
Meta justified the executive pay increase by stating that their cash compensation was below market rates.
“Local serial killer justified his latest triple-homicide by stating that his body count was below the national average.”
Good! If we don’t pay the Executives MORE while paying the Engineers and Workers and people improving the app LESS how will they continue to Improve their Product and Research?
