Zuckerberg’s security allowance increased by $4 million, while the tech-giant lays off thousands of employees.

On Wednesday, Meta Platforms Inc said the security allowance given to Chief Executive and co-founder Mark Zuckerberg and his family has been increased by $4 million to $14 million.

This move comes at a time when the Facebook and Instagram owner has cut thousands of jobs and slashed spending plans for a period called the “Year of Efficiency” by Zuckerberg.

Ranking 16th richest person in the Forbes billionaire list, the 38-year-old Zuckerberg, earned a compensation of around $27 million in 2021. His pay package for last year is yet to be disclosed by Meta.

Last week it was reported by the Financial Times that finalizing the budget of multiple teams was delayed by Meta as it was preparing for a fresh round of job cuts.

source: reuters.com

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