PR Trade Body Virtually Bust

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-timer 10 August 2020 @ 16:00 10 Aug 2020 @ 16:00 mdi-twitter mdi-facebook mdi-whatsapp mdi-telegram mdi-linkedin mdi-email mdi-comment View Comments