WPP is reportedly on a hiring freeze until early 2019, said sources close to Bloomberg. This comes shortly after quarterly results which outlines a slowdown in growth of business. According to Bloomberg, WPP was considering hiring about 2,000 new employees based on previous forecasts. But that has come to a halt.
Marketing has reached out to WPP for a statement.
Most recently, WPP CEO Mark Read (pictured) also revealed plans to put Kantar up for sale, following a weakening in the network’s business for North America and its creative agencies. In a recent financial statement, he added there is significant opportunity to develop Kantar into the world’s leading data, insights and consulting company.
Meanwhile according to media reports, Ogilvy UK also offered its staff to voluntarily be made redundant as it looks to restructure its operations. An Ogilvy spokesperson in Asia told Marketing that the move will not trickle into Asia as it is a local UK office only initiative.
John Cornwell, chief operations officer, reportedly said the “offer of voluntary redundancy is the final stage in Ogilvy UK’s transformation journey.” “Our intent is to be as transparent as possible and provide our people with choices as we continue to reshape our business for the future,” he added.