Publicis to slash costs, dividend as coronavirus hurts first-quarter sales [Reuters]
WPP plc American Depositary Shares (WPP)
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Source: Reuters
Publicis to slash costs, dividend as coronavirus hurts first-quarter sales PARIS (Reuters) - Publicis said on Monday it planned to slash costs by 500 million euros ($545 million) by cutting management pay and halving its dividend after the coronavirus pandemic hurt first-quarter revenue. Sales at the world’s third-biggest advertising company, which had originally planned to publish its quarterly figures on April 23, were down 2.9% on an organic basis in the first quarter to 2.48 billion euros. The decline was better than forecasts by five banks provided by the company for a drop of between 3.5% and 8.4%. Revenue was down 9.2% in Europe and down 1.9% in the Asia Pacific region while up 0.5% in North America. Publicis, which competes against bigger rivals WPP and Omnicom, said it was still unable to give financial guidance due to the fallout from the pandemic “We had a sound start to the year which confirms our business model,” Chief Executive Arthur Sadoun told reporters. “But in March
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WPP
Sec Filings
- 12/2/25 - Form 6-K
- 12/2/25 - Form 6-K
- 12/1/25 - Form 6-K
- WPP's page on the SEC website