Fortune 500 company Proctor and Gamble has layed off over 1,600 employees because they realize how affordably they can reach consumers via the social networking websites such as Facebook and Twitter, among others.
CEO Robert McDonald told Wall Street analysts that he would have to “moderate” his ad budget because Facebook and Google can be “more efficient” than the traditional media that usually eats into P&G’s ad budget.
Every aspiring author needs to have a presence via social networking. If you haven’t set up a profile yet on Facebook, get on it!
