De Beers to cut marketing budget in US

De Beers intends to slash US marketing budget according to National Jeweler. The media quotes the Diamond Information Center’s Sally Morrison as saying that the cutbacks have been propelled die to the global perception of the American economy heading for a recession in 2008. The cut implies that De Beers will be avoiding all female-targeted advertising for its Journey diamond jewellery and three-stone ring, and instead will concentrate on the male consumer. De Beers has also laid off 11 employees working in its campaign at JWT advertising firm.