PR Trade Body Virtually Bust mdi-fullscreen

CIPR, the trade body for the spin industry, is in big trouble. The confidential minutes of the latest council meetings reveal that they expect income to fall by £1,593,000.  Through pay cuts, redundancies and furloughs they have reduced direct expenditure by £861,000 of which staff costs were £261,000. Overall they expect to make a loss of £326,000 rather than a surplus of £145,000. This loss will reduce the CIPR’s reserves to zero by the end of the year.

The back-slapping at CIPR’s awards ceremonies has come to a halt as a result of Covid, so there are fewer opportunities to sell tickets to see everybody giving each other awards. They plan to seek a £750,000 government-backed Business Interruption Loan to be repaid over an extended term. They have already abandoned their offices to become a virtual organisation…

mdi-tag-outline CIPR Spin
mdi-timer August 10 2020 @ 16:00 mdi-share-variant mdi-twitter mdi-facebook mdi-whatsapp mdi-telegram mdi-linkedin mdi-email mdi-printer
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