Summary:

Ad industry holding company Omnicom Group is prepping to lay off nearly 5 percent of its 70,000-person global workforce, per AdAge. The trad…

Ad industry holding company Omnicom Group is prepping to lay off nearly 5 percent of its 70,000-person global workforce, per AdAge. The trade pub’s unidentified sources would not confirm which divisions or agencies would be affected by the cuts — which could ultimately affect 3,500 workers — but BBDO is expected to take a large hit, given that it’s Chrysler’s agency of record (and the auto giant has been slashing its ad spend). The news comes on the heels of another AdAge report that PHD, a media agency under Omnicom’s umbrella, is shutting its Atlanta office and laying off 30 staff. It is unclear whether PHD’s cuts are part of the larger layoff plan.

Updated: Not all of Omnicom’s units will experience cuts, but it unclear which parts of Omnicom were spared. A source tells paidContent that, contrary to what others are saying, there are no further layoffs planned for January. Agency heads were told to “get it all done now,” our source tells us, referring to the job cuts. Secondly, the source disputes the 5 percent figure, saying the actual number is between 3- and 4 percent, meaning less than 2,800 layoffs — which is nevertheless a painful blow to Omnicom and its remaining workforce.

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