""This is a big bet. These pay packages will not be realized unless Meta achieves massive future success, benefitting all of our shareholders," a Meta spokesperson said."
""Teams across Meta regularly restructure or implement changes to ensure they're in the best position to achieve their goals," a Meta spokesperson stated."
Meta laid off approximately 700 employees, primarily from its Reality Labs division, shortly after announcing a new stock incentive program for executives. The program could yield up to $921 million in compensation over five years if the company meets specific goals. A spokesperson emphasized that the pay packages depend on achieving significant future success, which would benefit shareholders. The layoffs affected various departments, including recruitment and sales, but the exact number of California employees impacted remains unclear.
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