SAN FRANCISCO: As tech giants like Meta and Google lay off 1000’s of staff and extra job cuts are on the best way, high executives took dwelling hefty bonuses and compensation.
Meta employees grilled CEO Mark Zuckerberg throughout a digital Q&A session in regards to the six-figure bonuses given to senior executives amid layoffs, reviews Entrepreneur.
In line with Meta’s submitting with the US Securities and Change Fee (SEC) launched final week, C-suite executives like chief monetary officer Susan Li acquired $575,613 in bonuses; chief product officer Chris Cox $940,214; chief working officer Javier Olivan; chief expertise officer Andrew Bosworth; Technique Officer (CSO) David Whener $712,284 and former COO Sheryl Sandberg $298,385.
“Why did all the govt staff get EE/GE rankings (top-tier efficiency critiques at Meta) when they’re additionally straight chargeable for the alternatives that led to us needing to put off 20+ per cent of the corporate? The place is the accountability?” one worker requested Zuckerberg, in response to The Wall Avenue Journal.
C-suite executives acquired bonuses based mostly on particular person efficiency calculations, with the goal share being 75 per cent.
Zuckerberg allegedly instructed staff that a number of the executives had stepped into new roles and “taken on expanded scopes”.
Nonetheless, his response felt “shallow” and “patronising”, mentioned one other worker.
In the meantime, Alphabet and Google CEO Sundar Pichai acquired compensation of practically $226 million in 2022, in response to the corporate’s SEC submitting.
All 5 different high executives at Alphabet additionally acquired compensation within the hundreds of thousands for 2022, with a rise of not less than 9 million in comparison with the prior yr, the report talked about.
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