WPP Group to slash 7,200 jobs in 2009
LONDON - WPP Group will cut 7,200 jobs this year in response to a cut in clients' advertising and marketing budgets.
The company has already made around 50 per cent of the job cuts, as part of plans to reduce its global workforce by 6 per cent by the end of 2009.
The figure will be met through lay-offs or by not replacing staff that leave of their own volition. The job cuts will affect many staff in London, the UK, Europe and the US.
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Sir Martin Sorrell, the chief executive of the WPP Group, estimated last week that its like-for-like revenue would drop by around 5 per cent in 2009.
WPP owns agencies including JWT, Mindshare, Ogilvy & Mather Worldwide and Young & Rubicam Brands.
Sorrell... WPP chief
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