WPP to sell assets and cut jobs in radical shake-up to counter AI threat

WPP’s ad agencies – Ogilvy, VML and AKQA – will be brought together under the WPP Creative umbrella but continue as separate agencies. Photograph: Toby Melville/Reuters

The beleaguered UK advertising group WPP has announced a radical restructure to counter the threat posed by the growth of artificial intelligence, including plans to sell assets and job cuts.

Aiming to be “a simpler, lower-cost, AI-enabled business”, the London-based company laid out plans to achieve £500m of annual savings by 2028, at a cost of £400m over two years.