Meta Is Cutting Costs Where It Can. Here's What It's Not Giving Up On.
Meta Platforms (NASDAQ: META) investors were none too happy with its third-quarter earnings report, and management had to do something about it.
In response, management announced a round of cost-cutting measures, including laying off 11,000 employees. It slashed its expense outlook for 2023, paring back its capital expenditures outlook by $2 billion on the top end.
While Meta is cutting costs where it can, there's a key area where it's not going to stop spending.
Source Fool.com