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CHICAGO Sears Roebuck and Co. has cut its $770 million media budget and reduced fees to its two main agencies, WPP Group’s Ogilvy & Mather and Young & Rubicam, sources said.
The cuts led Y&R here to eliminate its freelance budget and lay off about five workers from its 90-member staff, sources said. Y&R officials declined comment. Ogilvy executives also declined comment.
The amount of Sears’ cutback on media could not be determined. The Hoffman Estates, Ill.-based
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