WPP cuts 1,000 more jobs as AI reshapes agency model
WPP is cutting an additional 1,000 jobs globally before the end of the year, bringing total reductions since the start of 2025 to almost 11,000. The holding company reported headcount of 97,388 at the end of June, down 6.4% year-on-year, and is targeting £500m in annualized savings by 2028. CEO Cindy Rose said new-business win rates have improved, citing wins including Huawei, Tesco, L'Oréal and Skechers, but CFO Joanne Wilson noted losses such as Mars, Coca-Cola North America and Paramount will continue to weigh on results. Gartner's Jay Wilson said stagnant marketing budgets and AI-driven efficiency are pushing agency fees to a projected all-time low of 15% of marketing budgets by 2030, inverting the traditional staffing pyramid. The cuts echo broader industry moves, including Omnicom's roughly 4,000 post-IPG-acquisition job cuts and Dentsu's planned elimination of about 3,400 roles outside Japan. WPP shares fell 3.7%.
- •WPP plans to cut roughly 1,000 additional jobs globally before the end of 2026.
- •WPP's total headcount was 97,388 at the end of June 2026, down 6.4% year-on-year, with almost 11,000 roles cut since the start of 2025.
- •WPP is targeting £500m in annualized savings by 2028.
