On 11 September 2009 we published a report of an interview with Sir Martin Sorrell of WPP under the headline "WPP eyes huge savings in consolidation". Unfortunately, that report contained a number of inaccuracies.
In particular, we erroneously reported that Sir Martin had said that older employees who don't embrace change may be let go and that big name brands such as Ogilvy & Mather and JWT each operated independently to the detriment of the group.
Sir Martin did not make these statements in the course of his interview. The original report was inaccurate and has now been corrected.
Our report stated that Sir Martin had called for the creation of a single back office for all agencies without mentioning that this was not an immediate plan but an ideal to be realized within 10 years. Finally, contrary to what we said in our earlier report Sir Martin in fact stated that WPP had predicted flat revenue growth for WPP in 2010.
We would like to place this correction on the record to clarify the previous inaccurate reporting of this interview.