Employees of the social media big, who get a score of “met most expectations” of their 2023 year-end opinions, will obtain a smaller proportion of bonus and restricted inventory award due in March 2024, the WSJ report stated.
The bonus multiplier for that grade has been minimize to 65% from 85% earlier, WSJ stated, including that the corporate may even restart assessing workers efficiency twice a yr.
“We are making changes to our performance process, taking into account learnings and feedback over the last year while optimizing for the future. These changes are not related to workforce restructuring,” a Meta spokesperson stated in a press release to Reuters, with out giving any additional particulars.
On March 14, the corporate introduced that it will minimize 10,000 jobs this yr in a second spherical of layoffs, as a part of restructuring that can see it scrap hiring plans for five,000 openings, kill off lower-priority tasks and “flatten” layers of center administration, because the business braces for a deep financial downturn.
Source: economictimes.indiatimes.com