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After Its Stock Gets Hammered, Company Seeks Savings
NEW YORK–Procter & Gamble and its roster agencies have been in heated negotiations for the past month over a new compensation plan scheduled to take effect July 1.
Sources said shop officials are fighting to stem what will likely be a reduction of fees from the Cincinnati packaged-goods maker of such brands as Crest, Scope, Tide, Pampers, Oil of Olay and Bounty.
One source said P&G is looking for opportunities “to make savings” since its stock lost about one-third of its value in March; at that time, it fell to just more than $52 per share after announcing that quarterly earnings per share would drop 11 percent from the previous year.
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