Dade Hayes Finance EditorInterPublic Group CEO Michael Roth said the company will occupy less office space because of COVID-19.“The footprint of the agency business is going to change,” he said during an earnings call with Wall Street analysts Wednesday. “Period.”Already, the parent company of McCann, Weber Shandwick and dozens of other media companies has eliminated 500,000 square feet from its global total of about 11 million, Roth said.
As advertising has declined during the pandemic, any company connected to it has had to slash expenses.“We’ve taken a very serious look at what offices are required,” Roth said. “There is no question that the use of offices will change in the future and we’re taking advantage of it.
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