Feb
23
P&G Will Cut Another $400 Million in Agency, Production Costs
Posted in: Uncategorized
If you thought Procter & Gamble Co. had cut all it could from agency and production fees, think again.
Chairman-CEO David Taylor said in an investor presentation that the company plans to reduce such spending by $400 million through the fiscal year ending June 30, 2021. That comes after a combined $750 million in such savings over the past three fiscal years. Taylor was presenting at the Consumer Analyst Group of New York conference in Boca Raton, Florida.
The process has involved cutting the number of agencies that P&G works with by 60 percent since fiscal 2015, but Taylor said the company will cut further, reducing them by 80 percent from the original base.
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