Posted: Sun May 03, 2009 9:06 am Post subject: WPP Advertising.
Global advertising firm WPP will cut a total of 7,200 jobs this year, many in Britain, Europe and the US, where growth has been falling as the recession forces companies to slash their advertising and marketing budgets. About half this number has already been lost, with the rest expected to go by the end of 2009, sources close to the company say.
WPP is on target to reduce its global workforce by over 6% to 106,000 by the end of 2009, either through severance or by not replacing staff who leave. Scores of people in London, as well as elsewhere in the UK, could be affected.
The company's actions illustrate the severity of the slump that is hitting industries across the globe and leading to ever higher rates of unemployment.
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