It’s all about the money these days. The almighty Yankee Dollar.
I read an article the other day in Advertising Age online that P&G plans to cut $500 Million in Agency Fees by shrinking its roster of agencies. Kind of like reporting on a funeral.
Their CFO said that the move will improve the company’s Marketing as it cuts costs.
I don’t think that adds up to Marketing Math but it does satisfy Wall Street.
In addition the company planned to reduce its non-manufacturing headcount by 25% to 30% by the end of the next fiscal year.
Non-manufacturing sounds like marketing folks to me.
Wait there is more. In addition P&G is plans to sell, spin off or merge 100 Brands.
Is that the P&G that I knew and admired? The marketing icon.