The security allowance given to Chief Executive and Co-Founder Mark Zuckerberg and his family has been increased by $4 million to $14 million, according to Meta Platforms Inc, which announced the change on Wednesday.
According to a filing from Meta, “This increased allowance, along with the costs of Zuckerberg’s current overall security program, are appropriate and necessary under the circumstances.”
The decision was made at a time when Mark Zuckerberg, the owner of Facebook and Instagram, has cut thousands of jobs and scaled back spending plans for what he has dubbed the “Year of Efficiency.”
In November, the owner of WhatsApp announced the elimination of more than 11,000 jobs, or 13% of its workforce, following the lead of tech giants like Amazon.com Inc and Microsoft Corp , both of which have announced thousands of layoffs as a result of the current economic climate.
