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IPG Interpublic Group of Companies

27.15
-0.055 (-0.20%)
28 Jun 2024 - Closed
Realtime Data
Share Name Share Symbol Market Type
Interpublic Group of Companies TG:IPG Tradegate Ordinary Share
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -0.055 -0.20% 27.15 27.035 27.265 27.17 27.17 27.17 37 22:50:17

Publicis Wins China Mobile Account; Lay-Offs In The US

29/01/2009 4:48pm

Dow Jones News


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French advertising group Publicis SA (13057.FR) Thursday said its ZenithOptimedia agency secured the China Mobile (0941.HK) account, but it also announced lay-offs at agencies Leo Burnett and Starcom Mediavest in the U.S.

China Mobile's advertising budget is estimated to exceed $100 million in 2009, a person familiar with the situation told Dow Jones Newswires.

Publicis won the account in a pitch against WPP's (WPP.LN) MindShare, Aegis' (AGS.LN) Carat, and Interpublic's (IPG) Universal McCann, Publicis said.

This is the second account win for Publicis in 2009. On Sunday, Publicis announced a contract with the French retail giant Carrefour SA (12017.FR).

This account, which includes corporate and commercial communications worldwide, is estimated to be worth about EUR1 billion, the person also said.

A large part of Carrefour's media account was previously held by French rival Havas (12188.FR).

Meantime, two of Publicis' agencies said they are going to lay off staff, a Publicis spokesperson said.

Leo Burnett will cut about 73 jobs and Starcom Mediavest about 70.

Last month, U.S.-based digital agency Digitas announced plans to cut 70 jobs in the U.S.

Company Web site: www.publicisgroupe.fr

-By Ruth Bender, Dow Jones Newswires; +33 1 40 17 17 40; ruth.bender@dowjones.com

Click here to go to Dow Jones NewsPlus, a web front page of today's most important business and market news, analysis and commentary. You can use this link on the day this article is published and the following day.

 
 

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