WPP will cut several thousand jobs in upcoming months, largely in Western Europe and North America. WPP businesses are expected to cut jobs anywhere staff costs exceed 60% of revenue, to meet
internal guidelines. The company employs more than 100,000 people worldwide.
The reduction will be offset by increases in staff in South America, Eastern Europe and Asia, where client
demand is holding up overall and even expanding in public relations and market research.
Some WPP shareholders are concerned about debt levels following WPP's acquisition of rival TNS
last summer. But experts say that WPP is well placed to weather the recession because so many of its employees are on temporary or part-time contracts.
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