khaskhabar.com : Tuesday, April 25, 2023 4:43 PM
San Francisco. As tech giants like Meta and Google are laying off thousands of employees and more job cuts are being made, top executives took huge bonuses and compensation.
Meta workers questioned CEO Mark Zuckerberg during a virtual Q&A session about the six-figure bonuses given to senior executives amid layoffs, Entrepreneur reports.
According to Meta’s filing with the US Securities and Exchange Commission (SEC) released last week, C-suite executives such as Chief Financial Officer Susan Lee received $575,613 in bonuses, Chief Product Officer Chris Cox $940,214, Chief Operating Officer Xavier Olivan; Chief Technology Officer Andrew Bosworth; Strategy officer (CSO) David Wehner received $712,284 and former COO Sheryl Sandberg received $298,385.
According to The Wall Street Journal, an employee asked Zuckerberg why the entire executive team received an EE/GE rating (the top-level performance review on Meta), when they are directly responsible for the choices that lead to the company’s success. Had to lay off 20 plus percent? Where is the accountability?”
C-suite executives received bonuses based on individual performance calculations, with a target percentage of 75 percent.
Zuckerberg reportedly told employees that some executives have stepped into new roles and ‘taken on expanded mandates.’
Meanwhile, Alphabet and Google CEO Sundar Pichai received compensation of about $226 million in 2022, according to the company’s SEC filings.
The report noted that all five other top Alphabet executives also received compensation in the millions for 2022, an increase of at least nine million over the previous year.(IANS)
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Web Title-Meta, Google’s top executives take huge bonuses and compensation amid company-wide layoffs
