WPP to splash out to reboot world's biggest ad group [Reuters]
WPP plc American Depositary Shares (WPP)
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Source: Reuters
WPP to splash out to reboot world's biggest ad group | Reuters 5 Min Read LONDON (Reuters) - WPP ( WPP.L ) will invest to hire new creative staff and reduce costs by cutting offices and jobs under a plan by new boss Mark Read to steer the world’s biggest advertising group back to growth. A company veteran who replaced founder Martin Sorrell during a period of turmoil earlier this year, Read set out his vision after a loss of key clients lead to several profit warnings and a 40 percent slump in its market value. Read said trading had improved slightly in the fourth quarter, clients remained supportive and the dividend would be maintained. WPP will spend 300 million pounds over three years to restructure and cut costs of 275 million pounds a year by 2021. Up to 3,500 jobs will go, while it will hire around 1,000 more to improve its senior leadership in its New York agencies on Madison Avenue. The company, which employs 130,000 people, will also roll out its most successful technologie
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WPP
News
- The Lacek Group Tackles "Next-Gen Engagement Marketing" in New White PaperPR Web
- Digital Ads Announces Expansion of Multi-Faceted Practices in Different Industries [Yahoo! Finance]Yahoo! Finance
- WPP First Quarter Trading Update [Yahoo! Finance]Yahoo! Finance
- WPP First Quarter Trading UpdateBusiness Wire
- Should You Be Worried About WPP plc's (LON:WPP) 5.1% Return On Equity? [Yahoo! Finance]Yahoo! Finance
WPP
Sec Filings
- 4/25/24 - Form 6-K
- 4/5/24 - Form SC
- 4/2/24 - Form 6-K
- WPP's page on the SEC website