🇺🇸 Meta (formerly Facebook) has declared that executive bonuses will be more than doubled, moving from 75% of the executive’s base salary to 200% after the company announced layoffs for 5% of it’s workforce.
In a filing on Thursday, the company announced “an increase in the target bonus percentage” to bring the company more in line with it’s competitors for executive pay.
This follows announcements of layoffs of 5% of the company’s workforce and a reduction by 10% in stock options for non-executive employees.
Meta’s stock is up more than 47% on the year, closing at $683.55 today. In the same filing as the layoffs, they announced a revenue growth of 21% to $48.39 billion.
While Meta’s executives make money hand over fist, it’s employees are cut to the bone and laid off. It’s never been more clear what their plans are. As the rate of profit continues to decline, the company can only achieve savings by by taking food from the tables of it’s workers. With “AI” ramping up to fill in the gaps, more tech layoffs are in the cards, yet none of them will effect the increasingly well compensated executive staff.
With no easy prey left, the capitalists must turn to Cannibalism to sustain themselves.
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In a filing on Thursday, the company announced “an increase in the target bonus percentage” to bring the company more in line with it’s competitors for executive pay.
This follows announcements of layoffs of 5% of the company’s workforce and a reduction by 10% in stock options for non-executive employees.
Meta’s stock is up more than 47% on the year, closing at $683.55 today. In the same filing as the layoffs, they announced a revenue growth of 21% to $48.39 billion.
While Meta’s executives make money hand over fist, it’s employees are cut to the bone and laid off. It’s never been more clear what their plans are. As the rate of profit continues to decline, the company can only achieve savings by by taking food from the tables of it’s workers. With “AI” ramping up to fill in the gaps, more tech layoffs are in the cards, yet none of them will effect the increasingly well compensated executive staff.
With no easy prey left, the capitalists must turn to Cannibalism to sustain themselves.
