WPP unveils turnaround plan as profit drops and revenue declines

British advertising group WPP has unveiled a multi year restructuring strategy aimed at restoring growth and simplifying its business after reporting a sharp drop in profit and declining revenue in 2025.

Christened Elevate28, the plan will see the company shift from a traditional holding company model to a more integrated structure built around four operating units spanning media, creative, production and enterprise solutions, supported by its AI driven WPP Open platform.

Chief executive Cindy Rose, who took over the role last year, said the strategy is designed to stabilise performance in 2026, return the company to organic growth in 2027 and accelerate expansion from 2028 onward.

WPP reported 2025 revenue of £13.55 billion, down 8.1% from £14.74 billion in 2024. Reported operating profit fell 71.2% to £382 million from £1.33 billion, impacted by £641 million in goodwill impairment charges, £114 million in property write downs and restructuring expenses linked to its ongoing transformation.

As part of the overhaul, WPP said it will streamline operations into four core divisions: WPP Media, WPP Creative, WPP Production and a newly created WPP Enterprise Solutions unit focused on AI transformation and technology services.

The group plans to generate £500 million in annualised cost savings by 2028 as it streamlines operations and rationalises its portfolio, with roughly £400 million of restructuring cash costs expected over two years.