In Q1 20, organic net revenue decreased by 3.3%, o/w -7.9% in March 2020 due to the containments imposed in a large number of countries in Europe and the US. In this extremely difficult environment, WPP signed new businesses for a total of $1.0bn (Intel global account, Hasbro and Novo Nordisk media accounts for instance). WPP confirmed cost savings of £700-800m in 2020 and added additional measures such as part-time working and voluntary salary sacrifice for some categories of employees
30 Apr 2020
Revenue contraction and cost savings everywhere
Sign up to access
Get access to our full offering from over 30 providers
Get access to our full offering from over 30 providers
Revenue contraction and cost savings everywhere
WPP Plc (WPP:LON) | 795 -66.8 (-1.0%) | Mkt Cap: 8,579m
- Published:
30 Apr 2020 -
Author:
Hélène Coumes -
Pages:
3
In Q1 20, organic net revenue decreased by 3.3%, o/w -7.9% in March 2020 due to the containments imposed in a large number of countries in Europe and the US. In this extremely difficult environment, WPP signed new businesses for a total of $1.0bn (Intel global account, Hasbro and Novo Nordisk media accounts for instance). WPP confirmed cost savings of £700-800m in 2020 and added additional measures such as part-time working and voluntary salary sacrifice for some categories of employees