In response to COVID-19, CFOs and senior finance leaders from organizations worldwide reported cutting their marketing budgets for 2020 by 11 percent, on average. They planned to cut their expenditure on legal, procurement, and R&D by four percent.
Cost management plans in selected categories by organizations worldwide in response to COVID-19 in 2020
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Average cost reduction
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Gartner. (June 15, 2020). Cost management plans in selected categories by organizations worldwide in response to COVID-19 in 2020 [Graph]. In Statista. Retrieved July 07, 2024, from https://www.statista.com/statistics/1128650/cost-management-plan-reduction-covid19-organizations-global/
Gartner. "Cost management plans in selected categories by organizations worldwide in response to COVID-19 in 2020 ." Chart. June 15, 2020. Statista. Accessed July 07, 2024. https://www.statista.com/statistics/1128650/cost-management-plan-reduction-covid19-organizations-global/
Gartner. (2020). Cost management plans in selected categories by organizations worldwide in response to COVID-19 in 2020 . Statista. Statista Inc.. Accessed: July 07, 2024. https://www.statista.com/statistics/1128650/cost-management-plan-reduction-covid19-organizations-global/
Gartner. "Cost Management Plans in Selected Categories by Organizations Worldwide in Response to Covid-19 in 2020 ." Statista, Statista Inc., 15 Jun 2020, https://www.statista.com/statistics/1128650/cost-management-plan-reduction-covid19-organizations-global/
Gartner, Cost management plans in selected categories by organizations worldwide in response to COVID-19 in 2020 Statista, https://www.statista.com/statistics/1128650/cost-management-plan-reduction-covid19-organizations-global/ (last visited July 07, 2024)
Cost management plans in selected categories by organizations worldwide in response to COVID-19 in 2020 [Graph], Gartner, June 15, 2020. [Online]. Available: https://www.statista.com/statistics/1128650/cost-management-plan-reduction-covid19-organizations-global/