The Week: City News - WPP to slash 7,200 jobs

WPP Group will axe 7,200 jobs this year in response to a drop in clients' advertising and marketing budgets.

The company has already made around 50 per cent of the job cuts, as part of plans to reduce its global workforce by 6 per cent by the end of 2009. The figure will be met through lay-offs or by not replacing staff who leave of their own volition. The job cuts will affect many staff in the UK, Europe and the US.