Tech Giants Slash Marketing Budgets, Bruising Major Ad Firms
- Despite AI hype, Silicon Valley isn’t running as many ads
- WPP CEO Read said he expected tech giant marketing to rebound
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After massive layoffs earlier this year, technology giants have found one more item to slash: marketing budgets.
Several large advertising companies reported a sharp cutback in spending from US tech and telecom companies, which had recently become some of the largest marketers in the world.