Meta Doubles Exec Bonuses After Layoffs: Outrage or Reward?

Meta’s giving its top dogs a raise. A big one. We’re talking doubling their potential bonuses. From 75% of their base salary to a whopping 200% by 2025. Why? To “motivate” them, says Meta. And to stay competitive with companies like Amazon and Apple.

But Here’s the Kicker. ..

Just last week, Meta swung the axe. About 3,600 employees got the boot. Ouch. That’s 5% of their workforce. Zuckerberg called it “performance management. ” Some employees aren’t buying it.

The Numbers Don’t Lie

Before this bonus bump, Meta says its exec bonuses were low. Like, bottom 15% compared to similar roles at other tech giants. This increase puts them in the middle of the pack. At least, that’s the idea.

Who’s Cashing In?

This bonus boost applies to some pretty big names. We’re talking Meta’s CFO, Susan Li. The Chief Product Officer, Christopher K. Cox. The COO, Javier Olivan. And the CTO, Andrew Bosworth. These folks already made around $1 million in bonuses last year. Not bad, right?

Zuckerberg’s Different Deal

Don’t worry about Zuck. He’s doing okay. His base salary is a single dollar. Seriously. He doesn’t get bonuses or stock. But he did get $24. 4 million in “other compensation” last year. Security, private jets, you know, the usual.

More Changes Afoot

And there’s more. Meta is cutting back on stock options for many of its employees. About 10% less, to be exact. While execs are potentially doubling their bonuses, rank-and-file employees are seeing their stock options shrink.

What Does it All Mean?

Meta’s median employee pay? A cool $379,000 in 2023. That’s nothing to sneeze at. But let’s not forget who’s at the very top. Zuckerberg is swimming in cash. Like, $245 billion worth. Number two richest person in the world, according to Bloomberg.

What’s the Takeaway?

Big bonuses for the top brass. Layoffs for thousands. Stock option cuts for many. Is it fair? Is it just business? You tell me.