WPP Reports June Quarter Losses Amid Elevate28 Turnaround

WPP reported losses for the June quarter, with revenue less pass-through costs falling 2.8% on a like-for-like basis to £2.485 billion. For the first half of the year, total revenue decreased 4.4% to £6.373 billion. The company attributed these declines to legacy account losses, though it noted sequential improvement in like-for-like growth during the second quarter.

Cindy Rose, CEO of WPP, stated that the company is firmly on track with Phase 1 of its Elevate28 turnaround plan. This strategy aims to restore organic growth by 2027 through £500 million in cost cuts and a structural transition from a holding company into four integrated operating units. Rose confirmed that the building blocks of the new organizational structure are now complete.

As part of these stabilization efforts, the company has significantly reduced its global workforce. Headcount dropped from 108,000 at the end of 2024 to 99,000 by the end of 2025.