Meta has decided to lower its bonus payouts for its employees due to its recent slump in stock prices and revenues.
Employees who receive bonuses from the company will also have to undergo additional performance reviews as part of the new policy.
The bonus reduction and additional performance reviews are part of Meta's efforts to cut costs and streamline its operations.
Employees who receive a "met most expectations" rating in their 2023 year-end reviews will receive a smaller percentage of bonus and restricted stock award due in March 2024.