Search »

WPP to Trim Thousands, Ogilvy Already Feeling the Knife

WPP, which employs more than 100,000 people, is said to be cutting several thousand jobs worldwide. The U.S., Britain, France, Germany, Italy and Spain were cited by the company as markets under pressure.

Cuts are expected to be centered in western Europe and North America, writes Reuters. Staff will expand in South America, eastern Europe and Asia.

The slimming of staff will take place where staff costs exceed 60% of revenue, according to the Guardian.

The cuts have already begun. Adweek reports that WPP’s Ogilvy Group cut about 10% of its staff today. The cuts affected Ogilvy & Mather, OgilvyOne, Ogilvy Interactive and OgilvyAction, sources say.

Omnicom Group is also preparing for massive layoffs, with about 3,500 of its 70,000 workers getting the boot.