Now it’s the turn of Tiger Woods, one of the finest golfers of the world, to face the blow of the economic recession. General Motors, the US car giant has terminated the sponsorship deal with Woods one year ahead of the time.

The carmaker has resorted to the government for help to save it from bankruptcy. Tiger Woods have been associated with this brand for the last nine years and also with the Buick in Canada and China. The company has maintained that this end was mutual and amicable for both the parties. Woods still has sponsorship deals with other major brands like Nike and Gatorade.

Major cost cutting strategies have already been taken by General Motors as the auto industry isn’t spared by the economic monster as well. The company has decided not to advertise itself in the next Oscar award function, or Super Bowl or Emmy awards shows.

The carmaker has also signaled that its plan of curbing on costs doesn’t end there. Several agreements may end before its time. It is a wise decision to make rather than incur further losses with unnecessary marketing campaigns. Moreover, mature brands like General Motors need not have aggressive advertisement and marketing campaigns as well. Indeed a smart move!

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Via: BrandRepublic