WPP is aiming to save £125m in costs through consolidation of its network and has earmarked £250m a year to invest in technology and AI.
The group, which employs about 115,000 people, is taking a restructuring hit of £125m this year that is likely to include some job losses, although it offered no comment or guidance on numbers. This, it said, would enable it to achieve cost savings of £125m in 2025, about half of which would be made this year.
The group is targeting a further £175m in gross savings from ‘efficiency opportunities across both back office and commercial delivery’.
Announced ahead of its Capital Markets Day, most of its savings will come from efficiencies realised f
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