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Fortune 500 companies are cutting CMO jobs | Fortune

January 22, 2024
Summary
Fortune 500 companies are reducing chief marketing officer (CMO) roles, reflecting the evolution of the position towards data-driven marketing. UPS, Etsy, Walgreens, Lowe's, Hyatt Hotels, McDonald’s, Johnson & Johnson, Uber, and Lyft are among companies that have eliminated standalone CMO roles. Increased use of marketing technology has transformed the role, integrating it into other executive areas. Moreover, few CEOs have marketing experience, which may contribute to the trend. Despite this, marketing remains critical, with roles absorbed into operational and growth-focused positions.
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