Managers at Meta Stand to get greater bonuses this 12 months.
The company said in an organization submission Thursday that it had approved “an increase in the target bonus percentage” for its annual bonus plan for managers. The named manager of Meta could earn a bonus of 200% of their basic content as a part of the brand new plan, in comparison with the 75% that they earned before, in accordance with the submission.
The updated bonus plan doesn’t apply to the Meta -CEO Mark Zuckerberg, the submission.
A committee for directors from Meta approved the change on February 13, after he had found.
“After this increase, the total cost remuneration of cash for the named manager (except the CEO) falls on the approximately 50th percentile of the Peer Group goal equalization,” says the submission.
The latest executive bonus plan is disclosed one week after Meta began rejection of 5% of its total workforce. The company had previously said that this is able to affect the bottom actors.
According to A, Meta has also reduced its annual distribution of stock options by about 10% for hundreds of employees report Published on Thursday by the Financial Times. The report stated that the reduction of the stock option on the idea of where the employees live and their position in the corporate could differ.
The Meta shares rose by greater than 47% last 12 months and closed on Thursday at 694.84 US dollars.
The company announced in January that sales of the fourth quarter rose by 21% to $ 48.39 billion in comparison with the previous 12 months.
Meta didn’t reply to a request for comments.
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