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Advertising giant WPP to axe thousands of jobs

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Advertising group WPP is cutting 3,500 jobs as part of its new strategy to shift focus to technology in a bid to stave off competition from tech giants.

WPP today said it will spend £300m over the next three years as it simplifies the business, aiming to make annual savings of £275m by 2021.

The company will make the savings by closing under-performing offices and cutting overlapping jobs.

Mark Read, who replaced Sir Martin Sorrell as chief executive earlier this year, told media: “What we hear from clients is very consistent: they want our creativity, and they want us to help them transform their business in a world reshaped by technology.”




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