The Week: Advertising news - Networks plan to axe jobs

Interpublic Group and Omnicom are gearing up to make significant cuts in personnel, according to reports.

IPG is considering targeted job cuts of as many as 2,000 positions, according to Reuters, while Omnicom is reportedly planning to axe 3,500 jobs, nearly 5 per cent of its global staff. WPP, meanwhile, has denied a report in The Observer this week that it is planning several thousand redundancies, mainly in Western Europe and North America.

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