How agencies are coping with global client cuts

An uncomfortable reality of a recession is that ad and marketing budgets are among the first to be cut. In the UK, the most recent Bellwether Report revealed record cuts in adspend. In the US, the likes of Nike, FedEx, Procter amp; Gamble and General Motors have slashed their marketing budgets. Elsewhere in Asia. China and India are still showing growth, albeit slower because of their reliance on exports to the US and Western Europe. Obviously, the slump will be felt more acutely by those agencies that rely in large part on clients in troubled industries such as the automobile business, but because of the growing nervousness, few sectors will be protected.