PR agencies cut staff as turnover falls in 2020
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Revenue of Hungary's PR industry fell one-quarter to HUF 48 billion in 2020, while PR agencies cut headcount more than 27%, state news wire MTI says, citing a report issued by the Hungarian Public Relations Association.
PR agencies' combined after-tax profit was stable, around HUF 11 bln, as the decline in payroll costs and less spending on indirect services caused profit margins to nearly double.
Close to 1,500 companies and around 2,300 sole proprietors worked in the PR industry in Hungary last year.
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