Citigroup Inc. has considerably cut its ad spending this year owing to the pressure from shareholders. However, the group is planning its new ad campaign during the second half. Squeezing out ad spending is a part of company’s overall drive to bring costs under control.
It was also reported that the shareholders came heavy on the company as the expenses were increasing at a much faster rate than the profit. Therefore, company succumbing to the pressure from shareholders has started its effort to slash down its expenses.
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