According to
an AgencySpy report
Leo Burnett had
a round of layoffs
a week ahead of
Publicis Groupe
buying Epsilon
Now for the sobering flip-side of a huge acquisition.
Monday, Reel 360 reported that Publicis Groupe had acquired data marketing giant Epsilon for $4.4 billion.
Now, like the Disney acquisition of Fox, layoffs have happened.
According to an AgencySpy story by Patrick Coffee, Leo Burnett has had a round of layoffs.
“Leo Burnett recently adjusted its staff mix across departments ensuring the right skills and resources are in place to keep pace of change in the market,” said a company spokesperson to Coffee. “The agency will continue to evolve its business to remain competitive and agile in order to meet client needs.”
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How many departments were affected remains unclear.
But according to the story, several sources told Coffee that the round included several “senior-level people.” After this post ran, the representative clarified that this decision was made on the local level rather than upon orders from Publicis corporate.
The agency’s Arc Worldwide unit was reportedly not touched.
This is the latest in a string of layoffs at the iconic shop. Earlier this year, Leo Burnett parted ways with staff on the Philip Morris account. The terminations were reportedly attributed to Morris pulling money from its tobacco marketing programs.
Production division Greenhouse also shut down late last year as Publicis moved to “streamline its North American production capabilities,” with the entire staff reportedly laid off.
These moves seem to contradict what Publicis CEO Arthur Sadoun’s Q&A with Adweek regarding the Epsilon news, in which he insisted that “Publicis is literally a creative business” with the acquisition primarily serving to enhance that offering.
“We are investing in creativity more than anywhere else,” Sadoun said.
Reel 360 sends out good thoughts to those affected by the acquisition.
Source: AgencySpy
