By Gideon Spanier
WPP is to end voluntary salary sacrifice for about 3,000 of its senior agency executives after three months.
The agency giant announced temporary salary reductions of between 10% and 20% at the end of March “to protect profitability, where possible, from a decline in revenue” because of the coronavirus crisis.
Different WPP agencies implemented the pay cuts at various points during April and the reductions are due to be phased out depending on when each agency first introduced them.
It is understood that a decision on whether to end salary reductions for board members, including Mark Read, WPP chief executive, is still under re
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