Shares of Facebook's and Instagram's parent company, Meta Platforms (NASDAQ: META), tanked last year in response to top-line revenue that contracted for the first time since the company went public in 2012. In the fourth quarter of 2022, the company's operating margin shrank to 20%, which did not compare well to the 40% operating margin the company reported in 2021. To right the ship, Meta CEO Mark Zuckerberg announced sweeping layoffs earlier this year and declared 2023 would be a much-needed year of efficiency.