December 18, 2008

Omnicom to Cut Up to 3500 Jobs

Filed under: finance,Investment — 7macaw @ 7:53 am
Tags: ,

According to AdAge, Omnicom Group – the industry’s largest holding company – is preparing a massive layoff of nearly 5% of its global work force of 70,000, according to executives close to the situation.

It is also reported that the executives would not confirm which divisions or agencies would be affected by the estimated 3,500 job loss, but it is believed that BBDO, the agency for ailing Chrysler, which lost its flagship U.S. brand Pepsi business this year, would particularly feel the ax. Earlier today, Ad Age reported that Omnicom media agency PHD was laying off 30 people and closing its Atlanta office.

Blog at