Facebook's parent plans to lower some bonus payouts and will more frequently assess employee performance, according to an internal memo
Facebook parent Meta Platforms Inc. plans to lower some bonus payouts and will more frequently assess employee performance, according to an internal memo, part of a sweeping revamp of the social-media company that includes large head-count reductions.
Employees who are given a rating of “met most expectations” in their 2023 year-end reviews are set to receive a smaller percentage of their bonus and restricted stock award due in March 2024, the social-media giant on Monday told managers in a memo viewed by The Wall Street Journal. The bonus multiplier for that grade has been cut to 65%, according to the memo. It was 85%, according to an internal document viewed by the Journal.
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