Saatchi’s Operating Margins Tumble: Saatchi & Saatchi...
From Times Staff and Wire Reports
Saatchi’s Operating Margins Tumble: Saatchi & Saatchi Co. operating margins this year will be well below those achieved in 1990, even if there’s increased activity in the final quarter, the advertising giant’s chief executive said. The London-based advertising firm has returned to its core marketing communications activities after the sale of the majority of its management consulting businesses. But because of poor demand in its leading markets, including the United States, Britain and Australia, revenue is expected to be lower. The firm has taken cost-cutting measures, including staff and pay reductions.
