17254: Bolloré Barks Bollocks To British Bonding.

 

Adweek countered its own coverage of the rumored Havas-WPP deal, indicating Havas CEO Yannick Bolloré denied the reported partnership discussions.

 

It’s a clear sign that the Apocalypse is upon us when leaders of White advertising agencies speak out against alleged falsehoods and lies.

 

Havas CEO Yannick Bolloré Denies WPP Deal Rumors 

 

In a memo to staff, Bolloré said the company is “not in discussions” with WPP following reports Havas was exploring a minority stake

 

By Audrey Kemp

 

Havas CEO Yannick Bolloré on Monday shut down speculation that his company was exploring a deal with WPP, telling employees in an internal memo that the French holding group is “not in discussions” with its British rival.

 

The clarification comes two days after reports broke in multiple outlets, including ADWEEK, that Havas had held discussions with WPP about taking a minority stake in the business—rumors the company previously declined to comment on.

 

On Monday, The Guardian reported that WPP shares rose 11% on the speculation, marking the biggest jump on the FTSE 100 that day.

 

In the staff memo, reviewed by ADWEEK, Bolloré said the rumors had prompted questions from employees and clients and warranted direct clarification. “It’s our policy not to comment on market rumors, however… we want to clarify that we are not in discussions with WPP,” Bolloré wrote.

 

He also emphasized Havas’ recent performance, including Q3 organic revenue growth of 3.8%, and said the company’s acquisition strategy remains focused on smaller, targeted “bolt-on” deals. However, he left the door open to larger acquisitions “aligned with our strategy,” adding “there are currently no ongoing discussions of that nature.”

 

The speculation surrounding Havas and WPP comes during a period of consolidation in the advertising industry. Omnicom’s $13.5 billion acquisition of Interpublic Group is expected to close this month, cementing the largest agency holding-company merger in history. Meanwhile, Dentsu is exploring a sale of its international operations.

 

WPP’s market value has fallen from £25 billion in 2017 to about £3 billion today, placing it at risk of falling out of the FTSE 100.

 

Below is the full memo Bolloré sent to employees:

 

Dear all,

 

It’s our policy not to comment on market rumors, however, given the recent press coverage amplifying these rumors and the questions we’ve received from colleagues and clients, we want to clarify that we are not in discussions with WPP.

 

As you know, Havas has delivered strong results over the past months in a world full of uncertainties. In Q3, we achieved organic growth of +3.8%, outperforming the market, reflecting remarkable client wins and expanded collaborations with long-standing partners. Thanks to your commitment and energy, we continue to reinforce our market position and drive growth.

 

Havas has a strategy of bolt-on and targeted acquisitions that contributes to our strong momentum, alongside strategic partnerships. While we could consider a larger acquisition aligned with our strategy, as stated during our Q3 earnings announcement a few weeks ago, there are currently no ongoing discussions of that nature.

 

Undistracted by rumors and noise, we remain focused on accelerating the deployment of our Converged.AI strategy, driving group-wide AI adoption, and delivering excellence for our clients and prospects.

 

Let’s keep pushing forward with ambition and confidence, shaping the future of our industry together.

 

Sincerely,

Yannick

17753: Havas + WPP = Hahah + WPPfft.

Adweek also reported on a deal starring Havas and WPP, indicating the Bolloré dumpster is seeking a minority stake versus a merger.

 

It would’ve been too hilarious for WPP—Adland’s once-leading corporate colonizer—to ultimately be acquired.

 

Yet why is Havas even interested in partnering with a company where there are no blood ties? Such a move counters Havas’ historic nepotism.

 

In short, a potential Havas-WPP union ignites a conflict of self-interest.

 

Havas Reportedly Exploring a Deal with WPP 

 

Industry insider suggests Havas is eyeing a minority stake, versus a merger

 

By Rebecca Stewart

 

Havas is reportedly in early talks about a deal involving WPP. 

 

The French network has expressed an interest in its U.K. rival, as have private equity firms Apollo and KKR, according to The Times of London.

 

One senior advertising exec told ADWEEK the two sides were in “very serious” discussions, currently centered on how to value WPP. They suggested that Havas was eyeing a minority stake in the business rather than exploring a full-blown merger.

 

Both Havas and WPP told ADWEEK they “do not comment on speculation.” At the time of writing, Apollo and KKR did not respond to a request for comment.

 

Outsider investors have been circling WPP for months. Earlier in November, U.K.-based investor Redwheel acquired a 5.25% stake in the holding company. It was also reported earlier this year that consulting giant Accenture had considered a bid.

 

Stiffer competition for Omnicom-IPG

 

Havas has been working more closely with rival agencies as Omnicom’s acquisition of IPG nears its close.

 

In September, it launched a joint venture with Horizon to manage $20 billion in bookings and position itself as one of the world’s largest media buyers.

 

Buying a stake in WPP could give Havas a strategic foothold in one of its biggest rivals and improve both holdcos’ challenger status against a combined Omnicom-IPG goliath.

 

Havas CEO Yannick Bolloré said he would consider “significant” merger and acquisition deals after Havas spun off from its former owner Vivendi in December 2024, and it’s within the Bolloré family playbook to acquire stakes in rival marketing companies with the intent to merge.

 

In the mid-2000s, Vincent Bolloré, Yannick’s father, purchased a stake in Aegis Group with the intent to merge it with Havas. That vision never came to fruition, and Aegis was eventually sold to Dentsu.

 

If Havas does buy into WPP, it would be an opportune time to grab a stake in what was once the world’s most valuable ad network. WPP had a £24 billion valuation at its peak in 2017, but its share price has fallen around 65% since the start of 2025.

 

By contrast, Havas has been on a steady upswing over the last year, reporting a record net revenue of $2.3 billion (€2 billion) for the first nine months of 2025.

 

Despite its troubles, WPP still dwarves Havas. The latter has 23,000 staffers and a market cap of $1.6 billion (€1.45 billion), compared to WPP’s 110,000 staffers and $4.1 billion (£3.1 billion) market cap. 

 

WPP’s future in the air

 

WPP’s future is anything but certain. Its new CEO, Cindy Rose, has called the company’s 8.4% revenue decline in Q3 “unacceptable” and has a turnaround plan that includes a big bet on AI. WPP is staffing up accordingly, having named Elav Horwitz its first chief innovation officer, a new AI-focused role.

 

WPP has also enlisted consulting firm McKinsey for a strategic review, and some are betting against its recovery. Recent U.K. regulatory filings show eight hedge funds, including Millennium and Marshall Wace, have been shorting WPP’s stock.

 

This week, Rose and chairman Philip Jansen each acquired 50,000 shares in the company, investing more than $184,000 (£140,000) apiece.

 

WPP declined to comment on the unexpected share purchases, which were widely interpreted as a deliberate signal of confidence to the market.

17252: WPP Ambition Transition To Acquisition…?

Advertising Age reported on speculation of a merger starring Havas and WPP.

 

Such a move would counter the Roserrection Plan fuzzily presented by WPP CEO Cindy Rose, whose ambition to stage a turnaround for the beleaguered White holding company involves being “simpler, more integrated, powered by media, data, and AI, efficiently priced and designed to deliver growth and business outcomes.”

 

Then again, desperation could prompt abandoning ambition—and abandoning ship.

 

Havas–WPP deal could be in the works

 

By Brian Bonilla

 

The Omnicom-IPG merger might not be the only major holding company deal in play: A combination or partnership between WPP and Havas is being considered, Ad Age has learned.

 

According to two people with knowledge of the situation, a deal or combination of some sort is being explored. One of these people described “serious talks” between the two, while the other said WPP has not engaged in conversations with Havas. Multiple people said that Havas is exploring the possibility of raising capital, and conceivably involving private equity, to see if a potential deal could work.

 

Havas declined to comment, and a WPP spokesman said, “We do not comment on speculation.”

 

A Havas/WPP merger would result in the world’s second-biggest agency company based on revenue. Following the completion of its merger with Interpublic Group of Cos., Omnicom Group will be the agency world’s biggest holding company. Omnicom expects to complete the acquisition of IPG this month.

 

World’s 10 biggest agency companies

 

WPP (including Havas) would rank as the world’s second-biggest agency company based on revenue, behind Omnicom (including IPG). Ranked by 2024 worldwide revenue. Dollars in billions. 

 

Havas spin-off from Vivendi

 

Puteaux, France-based Havas in December 2024 became an independent publicly traded company after it was spun off from Vivendi, a French entertainment and media group. Vivendi shareholders in December 2024 approved the spin-off, which was previously disclosed in Vivendi’s April 2024 letter to shareholders.

 

Havas has shown it is open to conversations and partnerships recently.

 

François Laroze, the company’s chief financial officer and chief operating officer, said during its October earnings call that Havas “would consider” a potential partnership or deal with Dentsu. Havas also recently launched a joint venture with Horizon Media.

 

Industry executives say an acquisition by London-based WPP would be challenging given its current financial struggles and depressed share price. WPP lowered its full-year organic revenue growth guidance and reported weak third-quarter results in late October.

 

WPP CEO Cindy Rose, who took on the role on Sept. 1, has been open about WPP’s need for simplification in its offering to clients. However, other industry executives say a deal could help increase WPP’s value.

 

WPP’s stock price has fallen more than 60% since the beginning of 2025. Earlier this month, the shares were trading at their lowest level since 1998.

 

Contributing: Bradley Johnson

17251: Adland Layoffs Are Not The ‘New Normal’—But Rather, The Now Normal.

 

Digiday published lengthy content on escalating layoffs in Adland, compounded by fears that AI will fuel greater reductions in force.

 

Hey, has anyone used ChatGPT to predict how many more bodies might be ejected from White advertising agencies in the months ahead?

 

As industry layoffs become the ‘new normal’, so does fear of AI’s impact on adland’s job market

 

By Sam Bradley

 

Job cuts made at Brandtech group media agency Jellyfish may be the latest symptom of a contracting advertising and marketing job market. The company cut as many as 50 roles at the end of October, following a slowdown in client spending, Digiday has learned.

 

“Our existing clients were spending less money, some of those were retracting the projects that they had planned, and that obviously led to a revenue hit,” said one exec whose role was cut in the layoffs and who spoke on condition of anonymity.

 

Jellyfish confirmed the cuts. “Like everyone in marketing, our business is dynamic and we are constantly making shifts in our resources, redesigning roles and structures,” said a spokesperson. “At 8% we have one of the lowest churn rates in the industry. Currently there is a very small number of roles affected in the U.S. and U.K.”

 

Those let go face difficult circumstances. One ad-tech executive made redundant earlier this year, who exchanged candor for anonymity, told Digiday that 11 months on, they were still without a permanent position. Compared with previous job markets, they said new positions were thinner on the ground. 

 

“Back then I could walk out of a job and walk into five interviews the following day. Now, I can’t get the interview,” they said. “It’s a tough market.”

 

Jellyfish’s cuts are small, compared with the job losses at holding company agencies in recent months.

 

Forrester analysis suggests agency headcounts have fallen 8% in 2025. In August, Dentsu committed to eliminating 3,400 jobs worldwide, approximately 8% of its staff. WPP, meanwhile, cut 7,000 during the final months of Mark Read’s CEO tenure; 700 came from Ogilvy alone. 

 

Interpublic Group has laid off 3,200 employees this year, while its to-be acquirer Omnicom already cut its global headcount by 3,000 jobs in 2024 and has been working to reduce staff costs by 10% in the run-up to that merger’s completion. Once the deal is complete, it expects to find $750 million in cost savings — given labor costs always lead the balance sheet, that’s not great news for the thousands working under each umbrella.

 

“Layoffs have become the new normal,” said the former Jellyfish exec.

 

But industry job losses aren’t limited to agencies. In October, TikTok cut 400 jobs in the U.K. from its Trust and Safety Team, while Target cut 1,800 white-collar positions, and Amazon recently announced plans to reduce its corporate workforce by 14,000 roles. CPG giant Nestlé plans to cut 12,000 office staff.

 

Between August and December 2024 (the most recent data), the American ad industry lost 4,600 roles overall according to the Bureau of Labor Statistics. And data from Britain’s Office for National Statistics showed job openings in the advertising and marketing industries had fallen 7.5% between 2022 and 2025. That’s set against rising unemployment in the U.S. (4.3% in August) and the U.K. (5% in September); U.S. firms, particularly retailers, announced the most job cuts for any October in more than 20 years according to a Thursday report from global outplacement and executive coaching firm Challenger, Gray & Christmas.

 

Some of the firms responsible have laid out their own justifications for reducing headcount. A historic merger here; long-term underperformance there; a restructuring ahead of a potential sale. Add them all together, and a pattern emerges.

 

“What we’re seeing is layoffs as a result of restructuring and financial distress,” said Jay Pattisall, vp and senior agency analyst at Forrester, who referenced an estimate by Madison & Wall that suggested the four largest holdcos averaged just 0.3% organic growth in Q3, the lowest for five years.

 

“If you’ve got a category that is in effect growing less than 1% then yes, they’re shedding jobs, because jobs are the number one overhead,” he added.

 

This year’s job cuts can be traced to restructuring and client cutbacks. But generative AI is the ghost at the leaving party.

 

“What we need to remember is that the world is changing quickly. This generation of AI is the most transformative technology we’ve seen since the Internet,” said Beth Galetti, svp of people experience and technology at Amazon, in an Oct. 28 blog post sent to Amazon employees. “We’re convinced that we need to be organized more leanly, with fewer layers and more ownership, to move as quickly as possible for our customers and business.”

 

Naveen Tewari, CEO of ad tech firm InMobi, warned in February that AI progress meant his software engineers “will not have jobs within two years.” Statements like Tewari’s are leaving marketing execs looking for their next role worried they’re going to be frozen out, experience be damned. 

 

The anonymous ad tech exec voiced fears that older workers could be disproportionately affected, and that a perception they’re less adept with gen AI tools could be used as cover for ageist discrimination. 

 

40% of advertising staffers aged between 40 and 55 feel their age has limited their career, according to research by the IPA and the Advertising Association. “It does start to feel like ageism and a slight white male-ism,” they said. 

 

Pattisall suggested that while this year’s layoffs can be primarily traced to restructuring pushes, next year’s will be provoked by AI. Two years ago, Forrester predicted that AI, automation and efficiency initiatives would result in a net 7.5% reduction in the U.S. advertising workforce. Its most recent report upgraded that estimate to 15% by the end of next year.

 

Again, this isn’t limited to ad agencies. Over a quarter of private-sector employers expect to cut staff as a result of AI, according to a survey of 2,000 firms by the Chartered Institute of Personnel and Development, the U.K. professional body for HR. 62% said they believed that admin and managerial roles were most at risk.

 

“The technology was nascent when we developed that forecast in in mid-2023,” explained Pattisall. “We had not factored for agentic and agents. I think we’ll see a larger percentage of the advertising population that can be replaced by those tools.”

 

— Jessica Davies contributed reporting to this story

17250: A Tale Of Two Vanguards.

 

Adweek introduced its new trophy stunt: Agency Vanguard Awards.

 

Formerly called Agency All-Stars, the program is designed to honor C-suite executives in White advertising agencies who “are setting the standard of effective leadership and paving the way for the next generation.” Whatever.

 

The Adweek Agency Vanguard program has no connection to the 4As Vanguard program, which “is designed to provide a framework for the industry to ensure more diverse and inclusive leadership in the future”—essentially hoping to address the historic lack of opportunities for Black talent in Adland.

 

It’s sad that a trade journal allegedly expert in covering the industry is apparently not aware of a heat shield from the industry’s leading trade group.

 

Feels like another example of the disinterest and indifference directed toward non-Whites in Adland.

 

Call for Nominations: Introducing the 2026 ADWEEK Agency Vanguard Awards 

 

Honoring the leaders, advocates, and growth drivers at agencies 

 

The most impactful agency executives are the ones who have powered themselves and their organizations, proving themselves indispensable to their clients. 

 

Through their work, these agency C-suite execs are setting the standard of effective leadership and paving the way for the next generation. They are the Agency Vanguard. 

 

ADWEEK is proud to announce, as part of our overall, newly launched Agency Vanguard program—a special series of content and events for agency leadership—the inaugural Agency Vanguard Awards. 

 

As ADWEEK builds our Agency Vanguard program, Agency All-Stars has been renamed the Agency Vanguard Awards. All agency C-suite executives are eligible to enter. 

 

Each nominee is invited to submit the name of a so-called “next leader” on their team to be featured in the final list alongside them—someone who is the executive’s right-hand person, their critical collaborator.

 

Nominees will be reviewed and selected internally by ADWEEK. The final list will be featured in the April issue of ADWEEK in print and online on 4/7/26. 

 

There is no entry fee; the final deadline for nominations is January 23, 2026. 

 

Please use the nomination form below to submit a candidate.

17249: Retorting & Reporting.

 

Adweek spotlighted griping from Publicis Groupe CEO Arthur Sadoun, who publicly pressured Omnicom to report its financials like the other holding companies (Omnicom currently reports gross revenue while rivals report net revenue). Oddly enough, Sadoun said if Omnicom does not change its reporting, Publicis Groupe will proceed to mimic the soon-to-be-biggest White holding company and report gross revenues too.

 

Don’t expect Sadoun’s suggestion to get placed on Omnicom CEO John Wren’s to-do list—alongside maintaining his Pioneer of Diversity status.

 

It all sounds like sour grapes between ex-lovers…?

 

Arthur Sadoun Urges Omnicom to Report Financials Like The Other Big Four Holdcos 

 

Publicis Groupe CEO criticizes ‘apples and oranges’ accounting ahead of Omnicom’s IPG takeover

 

By Rebecca Stewart

 

Arthur Sadoun is putting public pressure on competitor Omnicom to report its financials the same way the other Big Four holding companies do.

 

Ahead of Omnicom’s takeover of Interpublic Group (IPG), set to close this month, Sadoun called for the U.S.-based ad network to report net revenue, rather than gross revenue, in its financial updates. 

 

Sadoun said Omnicom’s current approach makes it “impossible” to compare its performance at a market level: “When Omnicom becomes the largest player, apples and oranges accounting has to end, to increase investor trust in the industry,” he said in a speech during Morgan Stanley’s European Tech, Media, and Telecom (TMT) conference in Barcelona on Nov. 12.

 

“What wasn’t a problem when they were a distant third will become one now. Investors and shareholders need transparent, comparable performance metrics across the industry,” he added. 

 

The Publicis Groupe CEO urged Omnicom to report net revenue, as WPP, Dentsu, Havas, Publicis, and IPG, which will soon represent 40% of the “new Omnicom,” all do. 

 

Sadoun stated that if Omnicom doesn’t bring its accounting in line with its peers, Publicis will start reporting both gross and net indicators for “a couple of quarters” before moving fully to gross.

 

When approached by ADWEEK, Omnicom declined to comment.

 

What does it mean?

 

Based on 2023 figures, the combined Omnicom-IPG would generate approximately $25.6 billion in gross revenue, making it the largest of the “Big Four” ad networks.

 

Currently, Omnicom reports gross revenue, which includes client billings and pass-through costs. Its peers, meanwhile, publish net revenue figures, which exclude these costs to show only what the agencies actually earn for their services.

 

Sadoun believes Omnicom should measure its performance on the same basis as its competitors to give a clearer picture of how its IPG acquisition is performing. 

 

Brian Wieser, founder of strategic advisory and consulting firm Madison and Wall, told ADWEEK he would be surprised if Omnicom changed its financial reporting following pressure from Sadoun.

 

However, he agreed that Omnicom’s preferred way of reporting is “misleading” and makes any comparison between industry figures “untrustworthy.”

 

Wieser said the reporting discrepancy also comes at a cost. “When companies don’t report in a clear way, they make it harder for analysts to understand them, and when they become too hard to understand, investors and analysts will spend less time looking at them, resulting in a reduction of interest in the sector. That means there’s less capital going into these companies.”

 

In Q3 2025, Omnicom reported gross revenue of $4 billion. 

 

Publicis reported a 3.1% increase in net revenue, reaching $3.9 billion in the same quarter, while WPP posted an 11.1% decline in revenue, less pass-through costs. IPG’s total revenue before billable expenses was $2.14 billion in Q3.

17248: IPG Preemptive Pre-Takeover Pruning.

 

Adweek reported IPG dumped 3,200 jobs—including 800 in September—ahead of the Omnicom acquisition. Plus, the White holding company vacated 730,000 square feet of office space across the planet.

 

And that’s the pruning executed before the impending takeover.

 

In the weeks ahead, don’t be surprised if IPG sneaks in a few more Black Friday going-out-of-business sales.

 

IPG Cuts 3,200 Jobs Ahead of Omnicom Takeover 

 

The company also vacated 730,000 square feet of office space globally

 

By Alison Weissbrot

 

Interpublic Group (IPG) has let go of 3,200 staffers this year, including 800 in September, according to the holding company’s latest filing with the U.S. Securities and Exchange Commission.

 

According to the 10-Q filing, the layoffs impacted “executive, regional, and account management as well as administrative, creative and media production personnel.”

 

IPG also reduced its global real estate footprint by 730,000 square feet this year. In the third quarter alone, IPG wiped its real estate footprint by 135,000 square feet.

 

Impairment costs related to both staff and real estate reductions totaled approximately $450 million in 2025, with severance costs at $177 million and lease impairment costs at $108 million.

 

The reductions were made to ready the holding company for its impending acquisition by Omnicom Group, expected to close this month. 

 

Omnicom and IPG received U.S. regulatory approval for the deal in September, after agreeing to a consent decree that would bar the new company from directing advertisers’ spend based on political or ideological beliefs, unless explicitly directed by an advertiser.

 

When the deal was first announced in December, the acquisition was projected to save $750 million in costs. Layoffs at IPG have been ongoing throughout the year, with cuts at IPG Mediabrands and Acxiom in March. The holding company shed 2,400 jobs in the first half of 2025.

 

It is expected that once the deal is finalized, Omnicom will reveal a new structure to the company that eliminates agency brands from the combined portfolio. 

 

Last month, Omnicom responded to rumors that it would sunset global creative network DDB by saying it is “undertaking a rigorous and considered process to ensure we have the very best solutions for the future for us and for our clients.”

 

On Nov. 10, IPG reported its last earnings as a public company, with revenues declining 5% year over year globally.    

 

A spokesperson for IPG did not reply to a request for comment.

17247: IPG 3Q $$$ OMG SMH WTF.

 

According to Adweek, IPG reported 3Q 2025 earnings after the market closed yesterday, showing global revenues dropping 5% year over year.

 

So, as the Omnicom acquisition of IPG proceeds, expect more pruning and layoffs due to decreased revenue and increased redundancies.

 

In the weeks ahead, the most creative work from Omnicom and IPG will be generated by accountants.

 

IPG Revenues Drop in Last Earnings Report as a Public Company 

 

The holding company forwent a call with investors ahead of its acquisition by Omnicom, expected to close this month

 

By Alison Weissbrot

 

IPG reported third quarter 2025 earnings after the market closed on Tuesday evening, with global revenues dropping 5% year over year. 

 

The holding company released a 10-Q filing and did not host a call with investors due to its soon-to-close acquisition by Omnicom Group.

 

The Numbers

 

$2.5 billion – Global revenue including billable expenses, a roughly 5% drop year-over-year

 

$1.61 billion – Total revenues generated in the U.S., down 5.4% year-over-year 

 

$1.37 billion – Cost of salaries and related expenses, down 6.4% year-over-year

 

$219 million – Operating income, up 65% year-over-year

 

​​18.5% – Adjusted EBITDA margin before billable expenses, restructuring, and deal costs

 

0.344 – The number of Omnicom shares that stockholders will receive per each of their IPG shares, or cash if applicable, after the acquisition closes

 

Key quote

 

“Following the close of the transaction, Omnicom shareholders will own 60.6% of the combined company and IPG shareholders will own 39.4%, on a fully diluted basis,” the company wrote in its 10-Q filing. “As a result of the merger, we will cease to be a publicly traded company.”