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Initiative jobs lost as IPG tightens belt.(Interpublic Group of Companies Inc.)(Brief article)
Interpublic is continuing the process of retrenching its media operations by axing a layer of senior global management at its Initiative network.
Mike Tunnicliffe, the global client and network development director at Initiative, and Holly Stevens, its executive vice-president and director of worldwide accounts, will be leaving the network as part of a cost-cutting exercise.
Alec Gerster, the worldwide chief executive of Initiative, has made the cutbacks because the remit of Tunnicliffe and Stevens was being replicated by new regional teams in Europe, North America, Latin America, and Asia.
Sources close to Initiative said Gerster was under pressure from ...
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