Ad giant WPP pulls dividend, buyback and outlook as clients cut spending
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LONDON (Reuters) - The world's biggest advertising company WPP has pulled its dividend and share buyback and withdrawn its 2020 guidance after the coronavirus pandemic sparked the most uncertain time in its 35-year history. The owner of the Ogilvy, Grey and Hill+Knowlton agencies said its actions, along with a cost cutting drive, would save around 2 billion pounds in 2020 to see it through a downturn in client spending.Chief Executive Mark Read said fallout from the coronavirus outbreak had..