What is Meta's 'Checkpoint' evaluation system that offers employees up to 300% bonus?

Facebook's parent, Meta Platforms, is revamping its employee performance evaluation process with a new program called 'Checkpoint'. It includes a four-bucket rating system, more frequent feedback, and higher bonuses of up to 300% for exceptional performers. About 20% staff rated "Outstanding" will get 200% bonus, 70% in "Excellent" will get 115%, and 7% in "Needs Improvement" will get 50% bonus.