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Meta Is Cutting Costs Where It Can. Here's What It's Not Giving Up On.

TheMotleyFool

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Meta Is Cutting Costs Where It Can. Here's What It's Not Giving Up On.: https://g.foolcdn.com/editorial/images/709141/robot-hand-puts-coins-in-piggy-bank.jpg

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

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