Top CEOs walked away with hefty bonuses and salaries as digital behemoths like Meta and Google layoffs.
Employees questioned CEO Mark Zuckerberg about the six-figure bonuses awarded to executives during the Meta Goggle’s challenging time of layoffs and stock declines at a virtual Q&A session with Meta employees last week.
Top Executives Received Hefty Bonuses and Salary
Meta, Google’s top executives earn sizable bonuses despite widespread Meta and Google layoffs. The following C-suite executives at Meta received six-figure bonuses in 2022, according to the company’s SEC filing, which was made public last week:
- Cfo Susan Li ($575,613)
- Cpo Christoper Cox ($940,214)
- Coo javier olivan ($786,552)
- Cto andrew bosworth ($714,588)
- Strategy Officer (CSO) David Whener ($712,284)
- Former coo sheryl sandberg ($298,385)
How Do Ceos Respond When Questioned About Meta and Google Layoffs?
Why did the whole executive team receive EE/GE ratings [Meta’s abbreviation for top-tier performance reports] when they were also directly in charge of the decisions that forced us to lay off more than 20% of the workforce? Where are the responsibilities? A worker inquired.
According to the company’s filing, C-suite executives got incentives determined by their unique performance, with a target percentage of 75%. According to reports, each executive got incentives totaling six figures for exceeding targets by a significant margin.
According to accounts, Zuckerberg told the team that some of the executives had gone into new positions with broader responsibilities. But another worker thought he had a dismissive and “shallow” attitude.
Not Only Meta But Google also Suffered from Severe Layoffs
Sundar Pichai, the CEO of Alphabet and Google, was paid close to $226 million in 2022, according to the business’s SEC report from last week. He received $ 6,322-599 in total pay in 2021. The salaries of Alphabet’s other five top executives totaled millions for 2022, a rise of at least nine million from the previous year.
Pichai received no stock awards in 2020 or 2021. Therefore the $218 million in stock awards for 2022 is mostly responsible for his sharp increase in remuneration.
Google announced to fire 12,000 Google layoffs in January. The corporation also lets the workforce know that various office perks and programs will be reduced to save costs.
