India, Feb. 21 -- Meta Platforms, Inc. announced the approval of a hefty increase in bonuses of its select executive officers under the new executive bonus plan, excluding Chief Executive Officer Mark Zuckerberg.
The news comes close on the heels of the tech major's recent announcement of significant growth in its fourth-quarter results and positive outlook, as well as the layoff of 5% of its overall workforce.
In a filing with the U.S. Securities And Exchange Commission, the parent of Facebook and Instagram said its Compensation, Nominating & Governance Committee or CNGC on February 13 approved an increase in the target bonus percentage for each of the company's named executive officers to 200% of their base salary from the 75% they earn...