The announcement to raise bonuses comes just a week after Meta began laying off 5 per cent of its workforce, a move the company attributed to targeting underperforming employees

Meta approved a plan to increase bonuses for company executives to up to 200% of their base pay amid layoffs targeting about 4,000 employees.

Meta executives are set to receive significantly larger bonuses this year, even as the company implements layoffs affecting 5% of its workforce. According to a corporate filing on Thursday, Meta’s board approved an increase in the target bonus percentage for its executive compensation plan.