Mark Zuckerberg in danger? Meta increases CEO’s security allowances to $14 Million amid layoffs

Meta, the social networking company, boosted Mark Zuckerberg’s security allowance to $14 million on Wednesday. Mark’s family is also covered by the security allowance. Meta defended the $4 million increase in a filing as appropriate and essential under the circumstances.   The firm’s security has been a headache. From 2013 till 2022, Meta has spent about $128 million on Mark’s security allowances. In 2022 alone, it cost $27 million to keep Zuckerberg from harm’s way. Last November, Meta purged the corporation with a large layoff of 11,000 employees, accounting for around 13% of its global workforce. In the midst of new layoffs from BigTechs such as Microsoft, Google, and others, Meta is preparing for another round of layoffs as Mark declares 2023 the “Year of Efficiency."   The Meta leader has already given a warning to managers to do more than merely manage. The rule was to code and contribute or quit. The diktat appears to be coming sooner than expected. Meta anticipates spending between $89 to $95 billion in 2023. Which simply means lowering costs. **Also read: What next for Facebook's parent company?** Meanwhile, Mark Zuckerberg is steadily ascending the ranks of the world’s richest billionaires after suffering a massive reduction in fortune during the outbreak. With a net worth of more than $64 billion, the inventor of Facebook is currently ranked 16th on the Forbes Richest List. The report of Zuckerberg increasing his security detail and spending more on security comes at a time when there are reports of another round of layoffs being conducted at Meta. Marne Levine, the chief business officer at Meta, recently revealed that she is leaving the social media giant after 13 years in the position. Levine was the original chief operating officer of Instagram and the vice president of global public policy at Facebook before joining Meta. Justin Osofsky and Nicola Mendelsohn will have additional responsibilities as senior sales and relationship executives going ahead, according to Meta. Also read: Meta planning another round of layoffs after firing 11,000 people last year, may fire thousands again Moreover, there has been a lack of clarity around budgets and the future headcount at the company. The job cuts are expected to take place around March, but it’s unknown how people could be affected. Read all the  Latest News ,  Trending News ,  Cricket News ,  Bollywood News , India News  and  Entertainment News  here. Follow us on  Facebook,  Twitter and  Instagram.