Agency

 

Redundancies at Mindshare follow WPP cost-cutting

 

LONDON - Mindshare is currently making a round of redundancies across its London-based UK and Worldwide operations as part of a cost-cutting drive at the WPP agency.

Jed Glanville, chief executive of Mindshare UK
Jed Glanville, chief executive of Mindshare UK

A number of staff at Mindshare Worldwide are understood to have entered into a consultation period.

In the UK, there have been up to 10 recent departures across the business, including new business director Sandra Collins, who left by mutual consent this week.

Collins has been in the media business for 25 years and joined Mindshare from Optimedia in October 2002.

Prior to Optimedia, now part of ZenithOptimedia, Collins worked as the group media director at Leo Burnett and in a marketing capacity at the now-defunct ITV sales house TSMS.

Due to financial constraints, Mindshare will not be recruiting to replace Collins and many of her responsibilities will be undertaken by Louise Richardson, business development director at the agency.

Mindshare's managing director Ita Murphy and chief strategy officer Kim Douglas will also take on more new business and marketing responsibility.

Jed Glanvill, chief executive of Mindshare UK, confirmed the UK agency has made "less than 10 redundancies" since the start of the year, but stressed there were "no plans to make any further cuts in the foreseeable future".

The WPP media agency is the third-largest agency in the UK, with billings in excess of £700m last year, according to The Nielsen Company.

Earlier this week, a Goldman Sachs assessment noted that several newpapers had carried a story over the weekend saying that WPP will be cutting around 7,200 jobs this year, equating to 6-7% of the workforce.

Around half of these jobs are already said to have gone, with the remainder expected during the rest of the year.

This is consistent with the 3% reduction in headcount WPP stated it had seen since the end of the year, of which a third had come from attrition and the rest from severance.

This is also consistent with the $75m in severance WPP indicated it had taken across Q4 2008 and the first quarter this year, with a further $75m expected to be taken in the remainder of the year.

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