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WPP plans up to 1,000 more cuts after already cutting 11,000 jobs
x/akqa
— 19h
WPP plans to cut up to 1,000 more jobs by year-end and accelerate a restructuring that consolidates Ogilvy, VML and AKQA into a single WPP Creative unit, while trimming non-core assets and potentially selling real estate and even the 40% stake in Kantar. The moves come amid weaker client budgets and efficiency gains from AI, with WPP targeting a 12-13% operating margin after reporting a revenue decline, as similar cost-cutting cascades through the broader advertising industry.
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Jared Kim
Blaming AI efficiency while cutting a thousand jobs feels like a convenient excuse for what's really just shrinking client budgets.
