GfK Blasts Sorrell's 'Tactics', Reassures Staff

GfK CEO Klaus Wübbenhorst has told employees of the German-based global agency that the proposed merger with TNS would mean more jobs, not fewer. Prof. Wübbenhorst said comments suggesting the contrary from WPP's Martin Sorrell were 'morally reprehensible'.

The GfK letter follows Sorrell's comments in an interview published today in Germany's Frankfurter Allgemeine Zeitung newspaper. Sorrell said fear of job cuts is justified as the proposed TNS merger would create duplication in Germany and France. WPP last week made a £955m ($1.86bn) offer for TNS, which the latter rejected saying it 'substantially undervalued the company.'

Sorrell told the paper his group would remain interested in the idea of bidding for the combined firm if the 'merger of equals' goes ahead.

In the letter, sent to GfK employees worldwide today, Prof. Wübbenhorst said Sorrell's comments about redundancies were 'deliberate tactics' and evidence that the merger proposal 'is the cause of extreme anxiety to our competitors.' He reassured staff: 'Two such rapidly expanding companies as GfK and TNS will be employing more, rather than fewer staff in the future... All GfK staff in Nuremberg and all over the world may rest assured that this merger means expansion and innovation.'

Web sites: www.gfk.com , www.wpp.com and www.tnsglobal.com .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.

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