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Cordiant cuts 400 jobs

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London--Cordiant Communications plc, the world's 10th largest advertising group, on Tuesday slashed 400 jobs, with most of the cuts being made at Cordiant's U.S. agencies because of their heavy focus on the technology sector. At the same time, Cordiant warned of lower full-year profits, also pointing to the tech sector as the culprit. Cordiant, which in March said it was open to takeover by a rival, owns New York-based Bates Worldwide, one of the biggest integrated communications networks in the world, and a 50% share in Zenith Media Worldwide, a leading media services agency, also based in New York.
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