The best way for CEOs to keep bonuses in a downturn: Lower expectations

• In today’s CEO Daily: How CEOs are protecting their pay packages by lowering their goals
• The big leadership story: Whether Meta’s reported 20% layoffs will encourage a new wave of job cuts
• The markets: A big Asia rebound
• Plus: All the news and watercooler chat from Fortune.

Good morning. Call it the Hall of Blame. One time-honored tradition in business is to take credit for what goes well, blame disappointing results on factors beyond...