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P&G Cuts Agency Costs, Hikes Digital To Save Money

Procter & Gamble expects to cut marketing spending this year as it uses savings to offset effects of foreign currency devaluations on its bottom line, Chief Financial Officer Jon Moeller said on the company's earnings conference call on Thursday. Savings are coming from efficiency gains both inside the company and outside, such as increased use of digital media and less spending on agency fees.

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