Hotline: Publicis Groupe boss rules out mass layoffs

Maurice Levy, the Publicis Groupe boss, today ruled out any mass layoffs despite describing 2009 as "one of the most difficult years that the world has had to endure for decades". Levy was speaking as the group reported revenue growth of 3.8 per cent for 2008 and an operating margin that reached a record level of 16.7 per cent.