WPP has been ‘staring into the abyss’

And mentioning an improvement in 2010 may be ‘famous last words’. WPP  CEO Sir Martin Sorrell  is known for his ‘bearish’ views on the markets. Recently he said that the situation for the advertising industry was ‘less worse’ but he was not prepared to be optimistic yet about 2010 prospects. In a recent interview with the BBC  he has said that the group had been ‘staring into the abyss’ in 2009.

He added that the corner had now been turned and that after making staff cuts among its 140,000 workers last year, he was now hiring again. WPP said that it expected 2010 to be a more stable year. That, though, was followed by the phrase in brackets: “famous last words”.via BBC News – WPP profits fall after ‘brutal’ 2009.

Picture: Stock Exchange | Clifftop | Michel Meynsbrughen