Meta Platforms Inc. is planning to reduce bonus payments for some employees and give staff assessments twice a year. The company previously said it would cut 10,000 jobs.
Evercore ISI senior managing director Mark Mahaney names two tech stocks worth buying in a down market on 'Varney & Co.'is expected to reduce bonus payments for some employees and give staff performance reviews more frequently.
The bonus multiplier for that rating has been lowered from 85% to 65%. The platform will also be assessing staff performance twice a year. "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 said in a statement.
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