Meta approves a plan for larger executives bonuses after 5% dismissal

Executives in Target Stop to get more bonuses this year.

The company cited in a corporation submission On Thursday, he approved the “increase in the target percentage of bonus” for his annual bonus plan for the executives. Meta appointed executive officials could earn a bonus of 200% of their basic salary according to the new plan, compared to the 75% they earned earlier, according to the application.

The updated bonus plan does not apply to the Meta Mark Zuckerberg Meta, the application is listed.

The Meta Board Committee approved a change in February.13. After finding that “targeting the total financial fee” for his executives “was at or below 15. A percent of the target total monetary compensation of executives holding similar positions” in peers in companies.

“Following this increase, targeted total financial fee for appointed executive officials (except CEO) drops to approximately 50. The percentage of aimed monetary compensation of the peer group,” the application said.

The discovery of the new executive bonus plan comes a week after the target began to eliminate 5% of the total workforce. The company said that it would affect its own Lowest performers.

Meta also reduced its annual distribution of shares options by about 10% by thousands of employees, according to a report Published on Thursday by the Financial Times. The report states that the reduction of shares may differ on the basis of where workers live and their position in the company.

Meta stocks have increased more than 47% in the last year and closed on Thursday at $ 694.84, undergoing investors’ enthusiasm for the growth of social media companies sales on the digital advertising and potential for his AI investments in Eventually, they generate high yields.

The company said it was that it was Fourth quarter revenue It increased 21% in the year to $ 48.39 billion.

Meta did not answer the comment request.

Watch:: What drives the target of the meta’s supply