Dwarf sucks out $100 million from WPP group plc
June 3, 2009
WPP group plc is bleeding money in debt to its eyeballs and yet is paying Sir Martin $100 million to keep him happy according to George Parker
“Which means… A la the Chainsaw Dunlap school of management, if all else fails, lay thousands off every quarter. If you are a WPP employee, when it comes to job security… You’re X(O#KX!!”
Enjoy the new reality on the ground, no matter how much debt you throw your company in or now much the lack of innovation within the firm exists, as long as you can keep borrowing to buy revenue “your doing good!”
This is the kicker from the report:
“WPP also told shareholders that for the remainder of the year the short-term focus would continue to be balancing staffing costs against the fall in company revenue.”
So the company is losing revenue, yet he is still getting $100 million. Never ceases to amaze us to see this happen.
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art blizzard
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