Procter & Gamble just presented a new corporate strategy to investors that involves 5,700 layoffs and $10 billion in savings over the next five years. Much of that will come by holding back the company’s bloated $10 billion ad budget.
One of P&G’s most crucial new product launches this year will be Tide Pods, a brand extension of the laundry detergent. Tide Pods are small, dissolvable, pre-measured packets that supposedly work better than just dumping the stuff in the top of the machine. P&G will put a $150 million ad campaign behind that launch later this year. Tide is a massive brand that sells $1.3 billion a year, and Tide Pods are expected to add another $300 million annually.
Good luck trying to figure that out from CEO Bob McDonald’s presentation to investors yesterday, as filed with the SEC. The slide on Tide Pods is missing. In its place is a blank screen with the words, “Insert Tide Pods Copy.”
Here are the slides, as filed with the feds:
- Citibank Made This List Of Companies Who Want To Cut Their Ad Agency Bills
- Why Ad Execs Are FURIOUS After P&G CEO Said Hits On Facebook Are ‘Free’
- The New Old Spice Ads Poke Fun At P&G’s History Of Sexist Advertising
NOW WATCH: Briefing videos
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