Clients are retrenching and the holding companies are demanding profit targets from their agencies.
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Industry is retrenching, after over-investing during the mid-1990s, though there are now glimmers of a recovery.
When sacking staff or retrenching, bosses must follow long and complex procedures to the letter.
"They are obviously now retrenching to try to secure their position in the market, " he said.
And other times circumstances give you an opportunity to advance while others are retrenching.
Marketing budgets were the first to get cut at retrenching businesses--and that put the kibosh on press releases.
But for the most part, these up-and-coming state systems are more focused on expansion than on retrenching and survival.
If it ends up retrenching and focusing on driving transformation from within, its odds of long-term success are slim.
Instead, the Japanese are retrenching along with so many of the rest of us, for what could be several painful months.
And as we all know, this employment force is quickly retrenching.
Today it looks as though bookstores are doomed by e-readers with not only independents disappearing but the big box chains already retrenching.
But even the prospects for an upgrade aren't enough to keep international funds from retrenching from a market that many investors believe has topped out.
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He says that Corel is retrenching to concentrate on its core business while aiming to shift from consumer sales to the more lucrative corporate licensing.
Again, the idea is to try to offset the effects of a retrenching consumer and business sector and give the overall economy time to recover.
But it is strapped for cash and has been retrenching lately.
The Japanese economy has just begun its third decade of lackluster economic growth and large Japanese companies like Sony, Panasonic and Toyota are retrenching after facing record losses or scandals abroad.
Clients are retrenching, and consumers are becoming more frugal.
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One thing for sure, though, if this trend does continue, it suggests that consumers are retrenching, not a good sign for an economy where 70% of economic growth is dependent on consumption.
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In the last year, investors have been retrenching.
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