Meta has approved a significant increase in executive bonuses, allowing its top officers to earn up to 200 per cent of their base salaries, a substantial jump from the previous 75 per cent, according to a corporate filing on Thursday,

Meta’s executive officers could earn a bonus of 200% of their base salary under the company’s new executive bonus plan, up from the 75% they earned previously.

Meta executives will receive larger bonuses this year as target bonus percentages have increased to 200% of base salary. The decision follows recent layoffs affecting 4000 employees and reduced stock options for thousands.

Meta executives are set to receive significantly larger bonuses this year, even as the company implements layoffs affecting 5% of its workforce. According to a corporate filing on Thursday, Meta’s board approved an increase in the target bonus percentage for its executive compensation plan.