WPP Group to slash 7,200 jobs in 2009

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

Sorrell... WPP chief
Sorrell... WPP chief

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 that leave of their own volition. The job cuts will affect many staff in London, the UK, Europe and the US.

Sir Martin Sorrell, the chief executive of the WPP Group, estimated last week that its like-for-like revenue would drop by around 5 per cent in 2009. 

WPP owns agencies including JWT, Mindshare, Ogilvy & Mather Worldwide and Young & Rubicam Brands.