WPP to Cut 3,500 Jobs, Refocus on Creative and Data With No More Agency Mergers

CEO Mark Read lays out 'radical evolution' plan

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During today’s extended investor day conference, WPP CEO Mark Read positioned his business not as a formerly dominant network pivoting to retain its relevance, but as a “creative transformation company” best fit to serve a new kind of economy.

At the very least, he said, WPP will deliver 15 percent margins by 2021 as part of a strategy that will keep it “in line with its peers” by streamlining the holding company’s global structure and reinvesting in tech assets and creative talent—especially in the United States.

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