Mark Read, CEO, WPP
Communications giant WPP has announced a sweeping restructure of its business, with plans to cut 3,500 global jobs across its many divisions.
New chief executive Mark Read says the cuts are needed return the business to growth, with redundancies and office closures achieving savings of 275m over the next three years.
Half of that sum will be invested back into WPP, but before that can happen the company also has to shut or merge almost 200 offices.
Mark Read, took the reins of the comms giant after Sir Martin Sorrell was forced to step down as CEO following an investigation into his personal misconduct.
Read, who described the restructure as a radical evolution, said: We are taking decisive action and implementing major c…
Read the full article at: http://www.pmlive.com/pharma_news/wpp_to_cut_3,500_jobs_1272724