Technology company Meta has implemented a new bonus plan that increases bonus rates by 200% for senior executives. However, this change does not include company CEO Mark Zuckerberg. The new bonus plan came right after Meta laid off approximately 4,000 employees.

Tech giant Meta has approved a plan that allows company executives to receive bonuses of up to 200% of their base salaries. The company stated in a filing that the bonus plan provides “variable cash incentives” designed to encourage executive leaders to focus on company priorities and reward them for company achievements.

In a statement from the company, it was mentioned that the plan will increase from 75% to 200% of the base salary. However, this plan will not be applicable to Meta CEO Mark Zuckerberg.

FOLLOWING LAYOFFS
The new bonus plan came right after Meta laid off approximately 4,000 employees, which corresponds to 5% of the total workforce. Zuckerberg stated that the layoffs targeted “low performers” as the company aims to streamline operations and heavily invest in artificial intelligence.