WPP Cuts Jobs After New Profit Warning, Shares Sink
WPP Cuts Jobs After New Profit Warning, Shares Sink

WPP Cuts Jobs After New Profit Warning, Shares Sink

News summary

WPP, the world’s second-largest advertising group, issued its second profit warning of the year, causing its shares to plunge as much as 18% and hit a 16-year low. The company revised its 2025 like-for-like revenue outlook to a 3–5% decline and forecasted a significant reduction in operating profit margins, citing rapid AI-driven sector disruption, worsening economic uncertainty, and sharply reduced client spending. WPP also announced a 3.5% reduction in headcount in response to the deteriorating business outlook. CEO Mark Read, who will step down by year-end, noted that June's performance was worse than expected and warned that these negative trends are likely to persist. The company has suffered major client losses, including Coca-Cola and Paramount, and underperformed in key markets like China. Rival agencies Omnicom and Interpublic also saw share declines, highlighting deepening anxiety over the ad sector’s future.

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