July 31, 2001
Interpublic to Cut Additional 3,500 Jobs Across Agencies
Advertising conglomerate Interpublic Group of Companies Inc. will sack another 3,500 employees and merge or close more than 75 facilities after second-quarter net income dropped 42 percent. The New York company, now the world's No. 1 agency holding firm after swallowing rival True North Communications, slashed 2,200 jobs in the first quarter.