Meta To Boost Employee Bonuses After Mark Zuckerberg's Company Witnesses Record-Breaking Quarter: Report
Portfolio Pulse from Ananya Gairola
Meta Platforms Inc. (NASDAQ:META) plans to increase employee bonuses by 1.5 times following a record-breaking fourth quarter in revenue, profits, and user base growth. Despite a 22% reduction in headcount and strict performance reviews, the bonuses will be based on individual performance rankings and paid out in March. Meta's stock reached an all-time high post-results, significantly boosting CEO Mark Zuckerberg's wealth, who is set to receive a $700 million annual payout from Meta's new dividend.
February 03, 2024 | 4:45 am
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Meta Platforms Inc. is increasing employee bonuses following a record quarter, with its stock reaching an all-time high and CEO Zuckerberg's wealth surging.
The decision to increase employee bonuses reflects Meta's strong financial performance and optimism about its future prospects. The record-breaking quarter and the stock reaching an all-time high are likely to positively influence investor sentiment in the short term, contributing to a potential increase in stock price. The substantial increase in Mark Zuckerberg's wealth and the announcement of a new dividend further underline the company's financial health and growth trajectory.
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