Meta Platforms Inc mentioned on Wednesday it had elevated the safety allowance given to Chief Government and co-founder Mark Zuckerberg and his household by $4 million to $14 million.
“This elevated allowance, along with the prices of Zuckerberg’s current total safety program, are acceptable and mandatory below the circumstances,” Meta mentioned in a submitting.
Additionally learn: Meta plans contemporary layoffs, delays setting workforce budgets: Report
The transfer comes at a time when the proprietor of social media platforms Fb and Instagram has reduce hundreds of jobs and slashed spending plans for a interval that Zuckerberg has referred to as the “Yr of Effectivity.”
The 38-year-old, who ranks because the sixteenth richest particular person within the Forbes billionaire record, earned a compensation of about $27 million in 2021. Meta is but to reveal his pay bundle for final yr.
The Monetary Occasions reported final week that Meta had delayed finalizing the budgets of a number of groups because it was getting ready for a contemporary spherical of job cuts.