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Is Meta Platforms Stock a Buy After a Second Round of Layoffs?

TheMotleyFool

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Is Meta Platforms Stock a Buy After a Second Round of Layoffs?: https://g.foolcdn.com/editorial/images/724821/person-wearing-augmented-reality-glasses.jpg

On Meta Platform's (NASDAQ: META) fourth-quarter conference call, CEO Mark Zuckerberg declared 2023 the "year of efficiency." True to his word, the company has taken several steps to become more efficient, including a recent round of layoffs where 10,000 positions were eliminated and 5,000 openings it hadn't filled were canceled.

It is unfortunate these workers lost their jobs, but investors cheered this move by sending the stock 7% higher. So, is Meta Platforms stock attractive enough to buy, or has that ship sailed?

Few stocks have had as good a start to 2023 as Meta, with its price rising more than 60% this year.

Source Fool.com

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