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WPP slashes 2025 revenue forecast to a 5.5%-6% drop, citing weak spending and cutting 4,000 jobs.
WPP has cut its 2025 revenue forecast for the second time, now projecting a 5.5% to 6% decline in like-for-like underlying revenues, down from a prior estimate of 3% to 5%, citing weak performance and client spending.
The company reported a 5.9% drop in underlying revenues for the third quarter, with shares falling over 13%.
CEO Cindy Rose, who took over in September, called the results “unacceptable” and launched a turnaround plan including job cuts, organizational simplification, leadership changes, and enhanced AI partnerships with Google.
Around 4,000 jobs have been cut since January, primarily in media, with further restructuring expected early next year.
Profits fell to £98 million in the first half, from £338 million a year earlier, amid global economic pressures and declining marketing budgets.
WPP reduce las previsiones de ingresos para 2025 a una caída del 5,5% al 6%, citando el débil gasto y el recorte de 4,000 empleos.