Meta said it would spend less in 2023 — and investors cheered big-time, sending the stock up nearly 19% in after-hours trade.
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- Meta said it would slash its spending in 2023, with Mark Zuckerberg touting an efficiency drive.
- Investors cheered, sending Meta's stock up nearly 19% in after-hours trade.
- More job cuts could also be on the line after the company slashed 11,000 at the end of 2022.
Meta said Wednesday it would put the brakes on spending this year.