Meta Implements Cost-Cutting Measures, Reduces Employee Bonuses.

Facebook parent company Meta is set to reduce bonus payments for employees who receive a performance rating of "met most expectations" in their year-end reviews for 2023. The company has also increased the frequency of employee reviews to twice a year and will oust employees who receive two consecutive negative performance reviews. The move comes as part of CEO Mark Zuckerberg's "year of efficiency," which has already seen the company lay off 10,000 employees and close 5,000 open jobs. Despite the multiple rounds of layoffs, Meta's stock has surged more than 62% since the start of the year.