cost-cut

The administration all but cost-cut the singers out of the budget until saved by an anonymous donor.

While analysts have been encouraged by the outlook, they do not believe the gain is sustainable as the company has been struggling to sell cars acquired at elevated prices, with buyers restricting their spend due to concerns of an impending recession, and taken a slew of cost-cut measures.

Its string of cost-cut measures also helped the company to combat the impact of inflation and interest rate hikes on the business.

The biotech expects the cost-cut plans to help reduce its annual research and commercial expenses by 20% to 25% from last year.

Meta has kicked off an aggressive cost-cut drive, with plans to eliminate 21,000 jobs and flatten its middle-management structure as it works towards CEO Mark Zuckerberg's goal of turning 2023 into the "year of efficiency".