P&G will slash marketing to shore up its bottom line

Procter & Gamble will reduce its overall marketing spending this year as it looks to improve its bottom line, which is taking a hit from currency devaluation in foreign markets, said Jon Moeller, P&G's chief financial officer. The company will reduce its spending on agency fees and shift more marketing to digital. "We're at a point where simply looking at dollars is not representative of the strength of a marketing program," said Moeller.

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