Just in case you thought things were getting back to normal, recent results from some of the major advertising-PR conglomerates make for difficult reading.
Of course these results could be indicative of a fundamental flaw in the belief that bigger is better – particularly in the PR agency business – but all the same it’s a lot of practitioners who have lost their jobs.We’re not out of the woods yet.
Interpublic have made over 1,400 people redundant and today Larry Weber has stepped down not to mention their recent loss for Q1.
Incepta [FLASH Warning] has made a loss of �30 million.
Cordiant [FLASH Warning] has troubles of it’s own with debts of �250 million. As reported yesterday, it looks certain that Financial Dynamics will buy it’s way out of the group and the UK Guardian has an interesting timeline on Cordiant’s downward spiral.
FYI…Meanwhile here’s an interesting piece from last year in the UK’s Daily Telegraph on the PR industry’s difficulties. 
Murphy's Law 