Annual reports show extent of jobs cull.
The 28-agency, 7,000-person offering including Weber Shandwick, Golin, Octagon, Jack Morton and FutureBrand will operate as a global collective led by CEO Andy Polansky.
Credit Suisse report says industry will grow by 1% after pandemic.
MEMBERS ONLY: Following our Agency Report Card feature for 2019, we present R3's ranking of holding companies by full-year APAC revenue.
"Visibility into marketing and media spend is extremely challenging" says CEO Michael Roth.
Losses range from 6% to nearly 10% in Monday trading.
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