Procter & Gamble Looks To Cut Global Advertising Costs

Procter & Gamble is seeking to reduce its global advertising costs by 20 percent or $500 million. After telling investors it has saved $300 million, or 15 percent, on global advertising expenses in summer 2015, the company is pressing its advertising agencies, especially Publicis, to help ensure this goal will be achieved. Industry observers expect P&G to further consolidate its marketing and advertising accounts as part of its cost-cutting efforts.