HEADLINES: IPG to cut 3,500 jobs after slipping into the red

The Interpublic Group (IPG) says it will eliminate 3,500 jobs

worldwide after posting a second quarter net loss of US$110

million. The retrenchments are believed to be in addition to the 2,200

jobs cut in the first half.

Reduced client spending and charges related to a company reorganisation

and the integration of True North pushed the group into the red. IPG

chairman and chief executive John Dooner said the group did not reduce

costs as quickly and as deeply as needed.