Publicis Groupe issued a missive the other day about steps being taken throughout the organization to deal with the ongoing health crisis. The statement was issued after the company’s management board met with its supervisory board earlier this week.
In a nutshell those steps boil down to:
--Working remotely and restricting travel wherever possible, as well as other preventative measures to control the spread of COVID-19 throughout the Groupe. Which is basically what all the other holding groups are doing, as well.
--Helping clients through the crisis with “unwavering commitment” to their businesses and marketing plans. Well, that’s what they get paid to do right? Just like the all the other holding companies. So that’s a good measure to take.
--“Rigorously” manage operating costs “including the postponement of some expenses to get through the current situation.” I think it’s safe to assume the Groupe’s peer set is taking a similar approach to costs, especially now that forecasters are shaving billions off previously estimated ad expenditures for 2020 — a year that was supposed to be a comeback year for most of the holding companies after a rough 2019.
It seems like “getting through the current situation” is what we’re all attempting to do on many levels, including adapting to new work models, caring for family, watching out for neighbors who might be at high risk and helping out in our communities in ways we haven’t before.
Good luck to all of us, because it seems the worst is yet to come. Stay safe and keep washing those hands.