According to reports, Facebook owner Meta increased Mark Zuckerberg’s security allowance to $14 million in the midst of a round of layoffs. Facebook and Instagram, two of the largest social media platforms owned by Meta, have lately experienced layoffs in what Mark Zuckerberg called a “Year of Efficiency.” In the midst of what economists have dubbed an “unspoken recession,” Facebook and other American businesses have been reducing their staffing levels.
In a filing cited by the news agency Reuters, Meta – on increasing Zuckerberg’s security allowance by $4 million – said: “This increased allowance, together with the costs of Zuckerberg’s existing overall security program, are appropriate and necessary under the circumstances.”
Facebook owner Meta increased Mark Zuckerberg’s security allowance to $14 million in the midst of a round of layoffs.
“Our management theme for 2023 is the ‘Year of Efficiency’ and we’re focused on becoming a stronger and more nimble organization,” Zuckerberg said as part of the release of Meta’s fourth-quarter earnings report. On the drop in revenues, he said: “The first 18 years I think we grew it 20 percent, 30 percent compound or a lot more every year, And then obviously that changed dramatically in 2022, where our revenue was negative for growth, for the first time in the company’s history.”
