Meta's Bold Move: Executive Bonuses Soar Despite Massive Layoffs
Meta has announced a 200% increase in executive bonuses while laying off 3,600 employees. Although this move excludes CEO Mark Zuckerberg, it has sparked public outrage and raised ethical concerns. The layoffs target low-performing staff with plans to backfill these positions, reflecting a strategic workforce optimization approach. Despite criticism, Meta demonstrated a strong financial performance in Q4 2024, with revenue increasing by 21% year-over-year to $48.39 billion. Additionally, Meta is expanding in India, introducing a new Enterprise Engineering center in Bengaluru focusing on software development, machine learning, and data center chip design.
Feb 24