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On October 28, 2021, the parent company of Facebook changed its name from Facebook, Inc., to Meta Platforms, Inc., to \"reflect its focus on building the metaverse\".[23] According to Meta, the term

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Identify areas where expenses can be reduced

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Cost cutting measures refer to strategies and actions implemented by an organization to reduce expenses and improve its financial performance.

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Information that must be reported includes the current expenses, proposed cost reductions, rationale for the cuts, and projected impact on the organization's operations.

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