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As 2023 begins, holding companies are keeping their plans for the year close to the vest, especially ahead of a murky economic period.
“It’s either they’re scared to call it because they really don’t know, or they’re scared to call it because they do know and they don’t want to tell you,” S4 Capital founder and executive chairman Martin Sorrell told Adweek.
All the holding company leaders that spoke with Adweek said they were proceeding cautiously, with no immediate plans for sweeping cuts or official hiring freezes—at least, not at the holding company level.
“While finalizing our budget for 2023, we remained cautiously optimistic.
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