Clemenger Group post healthy profits in 2020 amidst staff complaints

May 11, 2021 11:32

A group of “disheartened and angry” employees at Clemenger Group have reached out to Mumbrella to share their frustration at the management of the Omnicom subsidiary.

According to Clemenger Group’s financial report for 2020, which Mumbrella has seen, the group made a net profit of $50.506 million in 2020, only a slight drop on the 2019 result of $50.786 million. This is despite the business reporting a drop in revenues of $50.8 million from $371.7 million in 2019 down to $320.8 million for the year.

The financial results show that the business slashed staff costs by $24.5 million in 2020, in addition to receiving government subsidies in Australia and New Zealand. The cost savings are attributed to job cuts and wage reductions according to Clemenger Group executive chairman, Robert Morgan.

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Olivia Kruimel

Olivia Kruimel was the managing editor at Mumbrella. She has more than 15 years of experience in journalism, communications and marketing. Her journalism career began at Fairfax Media (now part of Nine) and includes various B2B publications such as B&T, Travel Today and ALB. As a marketer Olivia has worked for Standard Chartered and various global law firms.