 Mark Penn |
MDC Partners shaved its first-quarter loss to $2.5M from $31.3M a year due to its cost-cutting measures of staff, real estate and corporate expenses put into place during 2018.
New CEO Mark Penn said MDC is "on the path to return to both bottom and top-line growth and positive cash flow by the end of the year."
He promised new steps to increase efficiencies, bolster intra-agency cooperation and expand the offerings of its lead shops.
Penn has implemented a two-year program to "transform MDC to the model of a modern marketing services company, combining top creative talent with leading data, research, strategy, digital and media offerings."
MDC's Q1 revenue inched ahead 0.6 percent to $328.8M. Its PR shops are Hunter, KWT Global, Sloane & Co and Allison + Partners.
Publicis Groupe posted five percent Q3 net organic revenue growth, marking “another very strong quarter” for the French-based firm, according to CEO Arthur Sadoun.
WPP chief Cindy Rose is cutting up to 1,000 jobs by the end of the year, adding to the 11K jobs lost since the start of 2025, according to a report in the Financial Times.
WPP CEO Cindy Rose declares her stabilization plan is "firmly on track" as the company reports a 4.7 percent dip in 1H revenues.
FTI Consulting reported a 2.6 percent drop in Q2 strategic communications revenues to $100M, a shortfall largely due to a $7.4M decline in pass-through revenues.
Omnicom CEO John Wren reported a 7.2 percent rise in Q2 “core operations” to $6B and a 6.1 percent spurt on an organic basis.
