P&G to cut advertising costs by $400m

The cuts keep coming: P&G plans to cut advertising costs by $400m by implementing new agency models and reducing the number of agencies it works with by 50%.
Speaking at the Consumer Analyst Group of New York Conference, P&G chairman and chief executive David Taylor said that the consumer goods giant has already reduced the number of agencies it works with from 6,000 to 2,500 since it began its cost-saving spree in 2015. According to Taylor, the company has saved $750m in agency and prod