Meta approves bonuses of up to 200% for company execs as it lays off workers

Core Points - Meta has approved bonuses of up to 200% for its executives, effective from the 2025 annual performance period [1][2] - The increase in bonuses is a response to the current total cash compensation for named executive officers being at or below the 15th percentile compared to peers [3] - The total cash compensation for non-CEO executives will now align approximately with the 50th percentile of the peer group [5] Performance Management - Meta plans to cut 5% of its workforce based on performance, with a focus on managing out low performers more quickly [5][6] - The company aims for a total of 10% "non-regrettable" attrition by the end of the current performance cycle, including 5% from 2024 [7] Investment in AI - Meta is planning to invest up to $65 billion in artificial intelligence initiatives [8] - The CEO anticipates that 2025 will be a pivotal year for AI, with expectations for Meta AI to serve over 1 billion users and advancements in AI models [9]