Ad land faces job crunch as companies scale back spending [Yahoo! Finance]
WPP plc American Depositary Shares (WPP)
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Source: Yahoo! Finance
Job postings in advertising, marketing and PR fell 11pc in March compared with a month earlier, according to data from the jobs search engine Adzuna, the largest fall of any sector over the period as companies slash their marketing budgets. The figures come after advertising tycoon Sir Martin Sorrell, the founder of WPP who now runs S4 Capital, warned that clients would continue to be cautious about their spending after a downturn in the tech sector hammered advertising spending in 2023. Client reluctance to commit to marketing projects has caused job vacancies in the sector to shrink, with S4 last year laying off hundreds of staff. The overall number of jobs listed with Adzuna in March was down by 17pc compared to the same period a year ago, marking the fifth month of decline. The second-largest drop in job postings for the month was in trade and construction , with a 8.24pc fall amid a prolonged housebuilding slump. By comparison, vacancies in the travel industry jumped 1
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WPP
Sec Filings
- 5/9/24 - Form 6-K
- 5/8/24 - Form 6-K
- 5/2/24 - Form 6-K
- WPP's page on the SEC website