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Laying off … while spending big
There are two ways to think about spending on marketing during economic downturns. One is to hunker down and save money when times get tough. The other is to amp up advertising to spur demand when consumers might be reluctant to spend. Several Super Bowl spenders—including Google and Workday—are taking the latter approach this year as they shell out millions of dollars on media buys and expensive productions, even as they lay off employees and trim elsewhere.
“As we navigate this uncertain environment, it’s important we help ensure Workday is set up for continued growth for many years to come,” a Workday spokesperson told Ad Age this week after news broke that the maker of software for business tasks such as human resources was eliminating 3% of its global workforce.
Read more: What layoffs and downturn mean for the Big Game