No. According to internet myth buster, Snopes.com, Jane Fonda did not undergo rib removal surgery to achieve an ultra-small waist.
Female celebrities turned exercise mavens like Cher and Jane Fonda are especial targets for rumors of this kind because they're seen as committing the unforgivable crime of condescension. Not only are they rich, famous, and good-looking, they're now out to lecture the rest of us! In those cases, our urge to see the pedestal pulled out from under them runs strong.
While the rib thing is false, Fonda admitted to had some ‘work’ done on her chin and neck and had the bags taken away from under her eyes.
Of interest, check out 14 Most Shocking Beauty Treatments from CBSNews.com.
Tip! Health.com shares guide on how to reclaim a tiny waist.