Axe swings over Dentsu salaries as it activates 'cost saving measures'

'We consider our people to be our greatest strength and are doing everything we can to ensure we have a healthy and sustainable business for them and our clients, after this crisis passes.'

Dentsu Aegis Network has implemented a series of cost-cutting measures across the business as it navigates uncharted territory amid the COVID-19 crisis. 

Salary cuts and furloughs are reported to be among the moves made, affecting ad agencies including 360i, Carat and iProspect.  

A spokesperson for the holding company said in a statement: "Since the coronavirus outbreak Dentsu Aegis Network’s primary priority has been to protect our people, preserve and nurture our client relationships and to support the local economies and communities in which we operate. 

"As a result of COVID-19 business impacts, we are activating a set of cost saving measures across the company to ensure business continuity and to safeguard our people’s livelihoods around the world.

"We consider our people to be our greatest strength and are doing everything we can to ensure we have a healthy and sustainable business for them and our clients, after this crisis passes."

The measures come as all of advertising’s major holding companies look to make savings. Last week, IPG CEO Michael Roth sent a memo to staff informing them that agency leaders have been instructed to implement a series of measures in the coming days.

Subscribe today for just $116 a year

Get the very latest news and insight from Campaign with unrestricted access to campaignlive.com , plus get exclusive discounts to Campaign events

Become a subscriber

GET YOUR CAMPAIGN DAILY FIX

The latest work, news, advice, comment and analysis, sent to you every day

register free