WPP AUNZ implements cost cuts, reduced hours and consolidation to mitigate COVID-19 effects
WPP AUNZ says it is doing all it can to reduce redundancies as clients slash their agency budgets, pause spending and face uncertainty throughout the ongoing COVID-19 (coronavirus) pandemic.
“Many of our clients have already reduced their marketing and communications expenditure and more may continue to do so throughout this period as part of their own remedial actions,” the holding group, with agencies such as White Grey, VMLY&R, Mediacom, Wavemaker, Ogilvy and Wunderman Thompson, said.
WPP AUNZ wants to keep redundancies to a minimum
“The extent of their reduced expenditure is still unfolding, but we draw some confidence from the increased communications work we are undertaking for a select number of our high-quality clients across sectors such as government, financial services, insurance, and FMCG, in response to the immediate demands of consumers and change in consumer behaviours.”
“A significant reduction in salary increases”?
I didn’t know WPP actually increased anyone’s salary. Pay rise isn’t a phrase used in performance reviews here, forcing people to change titles to get the justified pay for that new title.
Has anyone known someone not in the exec team that actually got a pay rise without a title change?
Yes mate, at my agency, a WPPAUNZ 100% owned agency, about 40 pay increases last year. 29 without any change to title. None of those anywhere near exec level. A pay increment pure and simple. Dont bring your falsehoods here
Incorrect, please stop or provide receipts.
Your basis for saying incorrect is just as strong as their assertion that they are correct, I know some people that did get pay rises without title changes.
So rather than they provide receipts that it’s true, you should be the one to prove otherwise as you’re disagreeing.
Just reposting this:
https://www.adnews.com.au/news/the-new-ceo-at-wpp-aunz-is-a-5-million-man
And this:
https://www.booktopia.com.au/capital-karl-marx/book/9781840226997.html
But the big bois and gals will continue to receive their big salaries and bonuses.
“Ahh, I love the smell of neo-liberalism in the morning. It smells like … Capitalism gone bad”
WPPAUNZ share price @ 20 cents today. Only 14 cents to go before it goes under Growth Ops @ 6 cents. How did our business become so worthless?
I think that at this price level, WPP in UK will be pretty keen to buy it out. Market cap is $178 million only! Last year they made $138 million in earnings. Let’s say they do half of that this year. Frankly, it’s a steal. Good buy i reckon.
So are the board still taking their bonuses?