WPP Scangroup, founded by Kenyan tycoon Bharat Thakrar, set for layoffs amid half-year loss
WPP Scangroup, founded by Bharat Thakrar, is cutting jobs after posting a half-year loss amid weak demand and cash strain.
Bharat Thakrar
WPP Scangroup faces potential job cuts post $30-million lawsuit by Kenyan tycoon Bharat Thakrar
This decision, triggered by the challenges in meeting revenue targets, aims to align the firm with market demands and macroeconomic trends.
Kenyan tycoon Bharat Thakrar initiates $30.2 million lawsuit against WPP plc
This move follows his suspension from the company in 2021 and his announcement in February of plans to sue WPP for £24 million ($30.2 million).
Kenyan tycoon Bharat Thakrar threatens $30-million lawsuit against UK group
Thakrar also accused WPP of leaking details of an internal investigation into alleged financial and personal misconduct to local media, causing “reputational damage.”
WPP Scangroup appoints Patricia Ithau to replace fallen Kenyan mogul Bharat Thakrar as CEO
Her appointment comes a year after Thakrar stepped down as CEO.
Stake of Kenyan advertising mogul Bharat Thakrar in WPP Scangroup loses $342,170 in 61 days
The decline comes on the back of a sell-down in the marketing and communications company’s shares.
Fallen Kenyan mogul Bharat Thakrar sees stakes in WPP Scangroup rise $111,000 in 5 days
Bargain hunters recently drove up the company’s share price.