Meta, the technology company, has implemented a new bonus plan that increases bonus rates by 200% for senior managers. However, this change does not apply to the company’s CEO, Mark Zuckerberg. The new bonus plan came right after Meta laid off about 4,000 employees.

The tech giant Meta has approved a plan that allows company managers 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.”

According to the announcement from the company, the plan will increase from 75% to 200% of the base salary. However, this plan will not apply to Meta CEO Mark Zuckerberg.

COMES AFTER LAYOFFS The new bonus plan came right after Meta laid off about 4,000 employees, equivalent to 5% of the total workforce. Zuckerberg explained that the layoffs targeted “underperformers” as the company aims to streamline operations and heavily invest in artificial intelligence.