Facebook owner Meta planning lower bonus payouts for some employees: WSJ
SAN FRANCISCO – Facebook owner Meta Platforms is planning to lower bonus pays for some employees and assess staff performance more frequently, the Wall Street Journal reported on Tuesday, citing an internal memo.
Employees of the social media giant, who get a rating of “met most expectations” in their 2023 year-end reviews, will receive a smaller percentage of bonus and restricted stock award due in March 2024, the WSJ report said. The bonus multiplier for that grade has been cut to 65 per cent from 85 per cent earlier, WSJ added, adding that the company will also restart assessing staff performance twice a year.
“We are making changes to our performance process, taking into account learnings and feedback over the last year, while optimising for the future. These changes are not related to workforce restructuring,” a Meta spokesperson said in a statement to Reuters, without giving any further details.
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