News Desk
CALIFORNIA: Meta has announced a significant increase in executive bonuses, more than doubling the target bonus percentage for its top executives to 200 percent of their base salaries. This decision, disclosed in a filing with the U.S. Securities and Exchange Commission (SEC) on Thursday, comes just a week after the company laid off 5 percent of its workforce, affecting 3,600 employees.
According to the SEC filing, the new bonus structure is aimed at “motivating” and “rewarding” executives for their contributions to the company’s strategic priorities. This marks a sharp increase from the previous target of 75 percent in 2023 and 2024.
Among those set to benefit from this adjustment are Chief Financial Officer Susan Li, Chief Product Officer Christopher K. Cox, Chief Operating Officer Javier Olivan, and Chief Technology Officer Andrew Bosworth. Each of these executives earned approximately $1 million in bonuses last year, as per an April 2024 SEC filing.
Despite the increased bonuses for other executives, Meta CEO Mark Zuckerberg does not participate in the company’s bonus program. His base salary remains at $1, though he received $24.4 million in “other compensation” in 2023, primarily covering security costs and the personal use of private aircraft.
