JWT [Manajans/J. Walter Thompson]

Client:

JWT

Industry:

Professional Services

Type of Service:

Crisis Management 

Solution:

Change Management

 

StratejiCo. helped JWT to turn around and become profitable as the leading marketing communications firm through cost reduction and client satisfaction.

 

The Challenge  

When Turkey suffered a major financial crisis in 2001, the Turkish arm of the global marketing communications firm JWT approached StratejiCo. to solve its financial problems, which had left the company without any operating profit for the past five years, nearly forcing it to declare bankruptcy only six months prior.

The Solution  

StratejiCo. proposed a dramatic 50% reduction in overhead coupled with an intense change management program aimed at improving client satisfaction. With StratejiCo. Director Selim Oktar installed as interim CEO, the company managed to implement the proposed cost reductions free of adverse legal consequences.

Result

As a result, JWT’s income statement went from being in the red to  black. Most strikingly, the company earned a top, and first-ever, 7 out of 7 ranking from Unilever.