Aegis layoffs 'will not affect China'

Aegis is reportedly reducing its workforce by five per cent globally as statutory pre-tax profits slip 2.8 per cent to US4197.5 million from last year.

KF Lee (pictured), CEO Aegis Greater China, said the layoffs do not affect China. “In fact, we are expanding our digital service, and will continue to invest in talent development and consumer research,”she said.

Aegis interim chief executive and chairman John Napier has ordered the cut backs to the agency’s 16,800 strong workforce in its 40 markets.

An Aegis spokeswoman confirmed that the layoffs were not concentrated on any particular market and does not affect Asia, but runs “across Aegis Media, Synovate and head office,” with figures including the lay offs and resignations that took place late last year. 

According to Aegis Group’s 2008 Annual Results released yesterday, profits for the Asia Pacific region are up more than 40 per cent. 

Patrick Stahle, chairman and CEO of Aegis Asia Pacifc said, "We are pleased with the growth of 41 per cent in Asia Pacific. This, together with topping the new business league table in 2008, strengthens the success of our strategy of being consumer centric and digitally ahead."