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Zuckerberg slashes Meta bonuses, steps up employee reviews in latest cost cuts

Facebook parent Meta is reportedly set to slash bonus payments and step up the frequency of its employee reviews as part of CEO Mark Zuckerberg’s ongoing “year of efficiency.”

The reduced compensation plan will apply to Meta employees who receive a performance rating of “met most expectations” in their year-end reviews for 2023, top brass said in a Monday memo to managers and obtained by the Wall Street Journal.

Those staffers will earn a smaller percentage on their bonus and restricted stock award than they would have under Meta’s old review system.

The company has reportedly slashed its bonus multiplier to 65% from 85% for that category of workers.

“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,” Meta said in a memo to staffers.

The latest budget-tightening move surfaced roughly two weeks after Zuckerberg announced plans to lay off 10,000 employees – a second set of pink slips that followed a larger round of 11,000 layoffs last November.


Aside from the bonus cuts, Meta will begin conducting performance reviews of its staffers twice per year.

The company regularly ousts employees who receive two consecutive negative performance reviews, according to the Journal.

The midyear review is slated to begin in June and classify staffers by three rankings – below expectations, at or above expectations or significantly above expectations.

A Meta spokesperson told Reuters that the changes to performance reviews “are not related to workforce restructuring” at the company.

“We are making changes to our performance process, taking into account learnings and feedback over the last year while optimizing for the future,” the spokesperson said.

In its layoff announcement earlier this month, Zuckerberg said it would close about 5,000 open jobs in addition to the 10,000 cuts.

The company also has embarked on an effort to “flatten” its organizational structure by ordering managers to take roles as individual contributors who do not oversee other employees or to leave the company entirely.

Mark Zuckerberg

“Here’s the timeline you should expect: over the next couple of months, org leaders will announce restructuring plans focused on flattening our orgs, canceling lower priority projects, and reducing our hiring rates,” Zuckerberg confirmed in a memo, which was titled “Update on Meta’s year of efficiency.”

Laid-off Meta employees vented about losing their jobs on LinkedIn and other social media platforms – with at least two declaring they were ousted while out on maternity leave.

Meta’s multiple rounds of layoffs roiled staffers but have been well received among investors. The company’s stock has surged more than 62% since the start of the year.

The Post has reached out to Meta for further comment.