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Dubai Holding cuts 09 budget by 25% |
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1/15/2009 10:24:13 AM |
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Dubai Holding has cut its marketing and advertising budgets for 2009 by 25% across the group, with its property divisions worst hit, according to a report in The National.
“In the current economic climate, there is increased pressure on marketing and advertising budgets as business strategies and objectives change,” said Khalid Al Shafar, the marketing director of group marketing for Dubai Holding, quoted in The National.
“As a result, it has been decided to reduce the group’s total marketing and advertising spend by 25% in 2009, compared to 2008,” he added.
The moves follows on from the suspension of various bits of Dubai Holding’s marketing activities last year, pending a refocusing of its communication efforts.
Al Shafar said that while property-related spending would fall, other budgets among Dubai Holding’s divisions – which include Dubailand developer Tatweer, Tecom and Jumeirah Group – would remain stable or even rise.
Dubai Holding will stick with OMD Ellipse, part of the Omnicom Media Group created exclusively to serve Dubai Holding, for its media buying.
The National also reported that Dubai Holding-owned PR agency JiWin had shed a few jobs, and its sister agency A’Sidrah is in the process of restructuring.
Cuts, layoffs and restructuring. Why do we not think we’ve heard the last of these...
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Source: Adnationme.com |
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