Global advertising group Dentsu is cutting 6,000 staff from its international operations as it continues a restructure sparked by the pandemic.
The job losses represent 12.5% of the Dentsu International workforce. The estimated cost is expected to be GBP 640 million (AUD1.15 billion).
Denstu Group, which operates in 145 countries and regions with more than 66,000 staff, last month announced a series of "radical" cuts to its agencies, reducing them to six global brands from 300 internationally.
Dentsu International has about 47,000 staff. Most of the staff cuts will take place in 2021.
Dentsu Australia has been contacted for comment.
The move, part of a review started in August, one of many measures in response to the pandemic, is about simplifying the business and reducing operating costs.
Other holding companies, including WPP with its most recent announcement of folding creative agency Grey into digital marketing group AKQA, have been merging and reducing brands.
In the latest announcement, Dentsu says it expects expect 2020 full year organic revenue decline to be towards at the higher end of the range of -12.5% to -12.%.
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