P&G to Cut 1,600 Jobs, Bank on Digital for Long-term Savings

3 Feb


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P&G is the world’s largest advertiser, spending billions of dollars globally each year. Nontheless, according to Advertising Age, “Facing flat market shares and growing investor pressure to cut costs, Procter & Gamble Co. plans to eliminate about 1,600 ‘overhead’ or nonmanufacturing jobs, including some in marketing, and is banking on digital marketing to help contain media spending long-term, executives said on the company’s earnings conference call today.”

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