MANILA, PHILIPPINES – Dentsu Aegis Network (DAN) announces cost-saving measures to maintain business continuity and ensure their employees will be able to keep their livelihoods. The global network shared that it initiated non-people measures first, but had to resort to pay cuts as they wish to prioritize the welfare of their employees.
The measures include an immediate hiring freeze, delayed salary reviews, and at least a 10% pay cut for their employees and a higher percentage cut for top management.
DAN sent a statement to adobo magazine:
“Since the coronavirus outbreak, Dentsu Aegis Network’s primary priority has been to protect our people, preserve and nurture our client relationships and to support the local economies and communities in which we operate. As a result of COVID-19 business impacts, we are activating a set of cost saving measures across the company to ensure business continuity and to safeguard our people’s livelihoods around the world. These measures include implementing an immediate hiring freeze, delaying salary reviews in 2020 and temporary salary reductions with the top management team taking the highest percentage cut. We consider our people to be our greatest strength and are doing everything we can to ensure we have a healthy and sustainable business for them and our clients, after this crisis passes.”
The network earlier announced the joining of former DDB chief Wendy Clarke as its DAN’s new global CEO.
DAN is present in over 145 countries including the Philippines, and currently has over 42,000 employees within the network. They join other global agencies that have taken similar cost-cutting measures due to the slowdown caused by the COVID-19 pandemic.