By Robert Sawatzky
WPP has announced a wide number of cost cutting and cash saving measures in order to protect profitability, where possible, and conserve jobs as it copes with the severe financial fallout from the COVID-19 crisis. Immediate actions include freezing new hires, reviewing freelance spending, postponing planned salary increases for 2020 and stopping discretionary costs.
The latter includes cutting travel expenses and the costs of entering award shows, which is likely to include the Cannes Festival of Creativity.
In addition, WPP executive committee and board members have agreed to a 20% cut to their salaries or fees at least three months. The company says it will be lookin
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