WPP AUNZ’s new strategy won’t involve redundancies, insists CEO Jens Monsees
In his first major interview with media since taking the helm of WPP AUNZ five months ago, CEO Jens Monsees said he is confident his overhaul of the holding group won’t involve redundancies, explained that the new campus model will not impact the Sydney and Melbourne markets, and quoted Queen.
“I was just referring in my investor call to the last Queen concert that I saw here in Sydney. There is a nice song where they sing ‘I want it all and I want it now’. This is exactly the consumer of today, striving for convenience,” Monsees said in a media briefing following WPP AUNZ’s announcement of its ‘transformation strategy’ and full-year financial results.
Monsees has assured media that the new structure doesn’t equal redundancies
Shouldn’t that be “no more redundancies than usual?”
What about the 30-odd people let go from Wunderman-Thompson earlier this month?
That was due to account losses, not because of the restructure I would say.
Investors want to hear that there will be lots of redundancy.
Sorry but this ‘no redundancies’ comment needs to be thoroughly challenged by the trade. To deliver on a third of what is outlined in the strategy there would have to be substantial retraining and upskilling across WPP’s operating companies. Not to mention marketing automation being a streamlining exercise for CMOs and their agencies.
A commitment to retraining is not mentioned anywhere in the CEO strategy or under the Talent pillar so I’m highly skeptical of this claim, as a shareholder.
They probably have a natural attrition plan which would be quite a normal way to allow the business to reduce costs without any redundancies. In an industry with 25%+ natural staff turnover, then a well planned strategy to evolve the overall talent profile and scale over time should certainly be possible. I am not part of WPP Aunz to can only guess the meaning behind his comments (if we’re unpicking them), but I’d guess that he is implying that the business doesn’t need a sudden or significant one time cost reduction that would require redundancies. That doesn’t mean that in 2 years time the shape and size of the staff base will not be different though.
This is an inordinately strange press release given at least 15 people finished up at WT on the 14th of this month as a result of being made redundant?
I think there were large account losses.
That’s not what the retrenched were told. They were told it was due to restructure.
No redundancies in a group going backwards like this can also mean they won’t re hire. a decent number of people will see the lack of growth and want to bail out quickly.
whether this strategy will work remains to be seen. Transforming an org around tech skills is not the same as training a bunch of juniors on obscure planning software or process
No redundancies whatever. But probably lots of people going to spend more time with their families.
plenty of people made redundant at VMLY&R Sydney recently too
What about the 26 people let go last fortnight at VMLY&R?
It all seems good in theory but the cultural disaster that was the merge of VML and Y&R is evidence that bringing together two different cultures/brands doesn’t always work. All the VML clients have left the building, along with the original staff.
large revenue declines from account losses. unrelated to WPPAUNZ plans for the group
Leaders confidently declare that there will be no more cuts AFTER making the earlier cuts.
They think this will reassure those who escaped the culling to stay on, work harder for same if not less money.
It’s the ‘be grateful and get back to work’ gambit.
But the reality is that the ‘lucky ones’ are are those who got exited earlier.
They have a headstart in their job search.
That’s only if they aren’t actually crap to begin with.
Its not as if WPPAUNZ is alone here. The whole industry is in stagnation and decline. Not like there’s millions of high paying jobs with better titles, car spaces and corner offices to take your pick from. No longer the glory days of agency world – we all need to get used to it. We are a business
Add to this the 15 or so from The Brand Agency Melbourne dumped in the last two months
Unprofitable business. unrelated to WPPAUNZ plans for the group
“No, More Redundancies!”
WPP AUNZ new $trat€gy won’t involve r€dundanci€$, insists C€O J€n$ mon$€€$