Meta plans to reduce the bonus multiplier from 85% to 65% and restricted stock awards for staff who "met most expectations" in the 2023 year-end review, The Wall Street Journal’s Salvador Rodriguez reports. According to an internal memo, in addition to employees receiving a smaller percentage of their bonus and restricted stock award due in March 2024, the Facebook parent will more frequently assess employee performance. "We understand that while this is a significant change that might disappoint some people, it aligns with our continued focus on maintaining a high-performance culture," the memo said. CEO Mark Zuckerberg previously said 2023 would be the "year of efficiency." Reference Link
Meet Your ETF AI Analyst
- Discover how TipRanks' ETF AI Analyst can help you make smarter investment decisions
- Explore ETFs TipRanks' users love and see what insights the ETF AI Analyst reveals about the ones you follow.
Published first on TheFly
See today’s best-performing stocks on TipRanks >>
Read More on META:
- Meta (NASDAQ:META) to Trim Bonuses for Some Employees
- Meta Platforms price target raised to $240 from $210 at Guggenheim
- Wix.com announces expanded integration with Meta Platforms
- Meta Platforms price target raised to $270 from $225 at JPMorgan
- Meta VR device teardown shows chips mostly made by U.S. companies, Nikkei says