Social networking reduces profitability by 1pc at Edelman

According to BBC reporter Maggie Shiels in a story today headlined: “Firms miss social site success”:

“At a recent corporate executive summit in Gleneagles, Scotland, PR company Edelman revealed that social networking shaved 1% off its bottom line by encouraging its staff to use such websites as a recruitment tool.”

Shaved 1pc off its bottom line? Unless the meaning of shaved has changed, that means Edelman has seen profitability drop by 1pc as a result of social networking.

I presume Edelman or Maggie Shiels meant that costs rather than profits were shaved by 1pc.

In business, it is usually wise to know the difference between the two.

Also posted on escherman.wordpress.com