Havas '03 Revenue Takes a Tumble

Paris-based Havas continued to struggle in 2003, last week reporting a nearly 6 percent full-year revenue dip to approximately $2.1 billion. In the fourth quarter, organic growth fell 3.8 percent after a nearly 7 percent first-half drop and a 6.5 percent falloff during the first nine months. The holding company said it dismissed about 1,000 employees last year as part of a restructuring.