Morning Coffee Feb 23 2012

More Layoffs at Procter & Gamble and Sears

By Damian Ghigliotty

Two big names in the retail and consumer goods industries reported further layoffs yesterday.

Procter & Gamble said that it plans to cut 4,100 of its 129,000 employees during fiscal 2013. The Cincinatti, Ohio-based company looks to shave costs by $10 billion before the end of fiscal 2016. P&G previously announced 1,600 job cuts for 2012.

Sears Holdings said it is getting ready to separate its Sears Hometown and Outlet businesses, sell 11 more of its stores and reduce its headcount by another 100.

The move follows job cuts and store closings that were announced at the end of 2011 as part of a plan to reduce costs by up to $200 million. Marketing expenses were cited among the targets for cost cuts. The downsizing plans came against the backdrop of a fourth-quarter loss of $2.4 billion.

Sales Buzz

Twitter's New Ad Execs (AllThingsD)

Shailesh Rao and Stephen McIntyre, two big-time Google executives, are joining Twitter to lead an international advertising expansion.

Gap's New Hires (Chain Store Age)

Gap is on a mission to add more creative and product talent to its upper ranks. The San Francisco-based apparel giant has hired two retail veterans: Jill Stanton, for the new role of creative advisor for Old Navy, and Liz Meltzer, as senior vice president of Gap International Merchandising.

Consumer Confidence Gains (Bloomberg)

Consumer confidence rose to its highest level since April 2008 last week as more Americans became optimistic about their finances.

Marketing Buzz

Chief Content Officers (FINS)

The role of chief content officer is becoming an increasingly popular position for those in media and marketing. At places like Netflix, where Ted Sarandos reigns, the pay can reach into seven figures.

Lin's Branding (Bloomberg)

Jeremy Lin is looking to trademark the term "Linsanity." Read our coverage on how to model your career after his recent successes.

Marketing YouTube (The Drum)

Danielle Tiedt, general manager of Microsoft's search engine Bing, is joining YouTube as its vice president of marketing, where she will be responsible for luring audiences to the site's new channels.

Romenesko's Return (Ad Age)

Media blogger Jim Romenesko, who was laid off from Poynter last year, is finding a larger audience as an independent blogger. He talks to Ad Age about his new gig.

Buzz Around the Office

The Simpsons

Slowed down for your enjoyment.

List of the Day: Staying Awake

You've got a 3 p.m. meeting and you're in the middle of an REM cycle. Here's how to get chipper in a flash.

1. Participate so you're forced to talk.

2. Sit on an uncomfortable chair.

3. Eat something to give you a burst of energy.

(Source: The Daily Muse)



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