Tune in at 11:00 a.m. EDT as Ad Age’s Jeanine Poggi chats live with S4 Capital Executive Chairman Sir Martin Sorrell to discuss how the company is handling the pandemic. Discussions About . Search 2,345 jobs in marketing, advertising, creative and media.
an Associate Creative Director Advertising Apr 16, 2020.
BBDO fired Greg Hahn.
The cuts come after 145 people were let go there about three months ago, and 189 BBDO staffers in North America were laid off in December. - 2 days 7 hours ago. Chief executive John Wren appears to be the first holding co leader to give up the entirety of his salary; however, Business Insider’s Patrick Coffee noted the majority of his remuneration comes from bonuses. For more industry news and insight, follow us on Twitter: @adage. 75% of The Drum Magazine readership are senior management or above. BBDO promoted Hahn to creative vice chairman last October, taking on added responsibilities in addition to his chief creative role for the New York office. This approach does, however, have the ability to breed uncertainty as agency staffers wait to hear their fate. Hit the C-suite spot.
IPG has chosen to forgo a sweeping top-down plan and is instead handling cost-cutting at the agency level.
Chief executive Mark Read has done a good job of appearing honest and transparent in the face of a recession, offering up comprehensive interviews and drafting extended messages to staff. Thanks for reading and we hope you are all staying safe and well. BBDO promoted Hahn to creative vice chairman, promoted to the CCO role for BBDO New York, Colorado Springs Reporter Saves Boy’s Life With Bone Marrow Donation, Twitter Reveals Its Plans for the First Presidential Debate, Sony Music UK’s Dorothy Hui on Social-Fueled Discovery and the Rise of Voice, Life Experiences Taught This Exec Everything He Needed to Be a Founder, Instagram Begins Prepping Retailers for the Holiday Season, Adapt Your Marketing to the Emergence of Tribes, Integrate User Privacy Controls Into OTT and CTV.
April 17 2020, 7:29 am | BY Lynchy | 1 Comment Just days after Omnicom Chairman-CEO John Wren warned that furloughs and layoffs were imminent across all the holding company’s agencies, AdAge reports that BBDO Worldwide has laid off two of its top execs, New York Chief Creative Officer Greg Hahn and Exec VP-Director of Integrated Production Dave Rolfe. All Benefits Culture Layoffs PTO Salary .
BBDO North America Chairman David Lubars, who also worked with Hahn at Fallon Minneapolis, said simply, “I'm too heartbroken to comment.”.
The extent of its layoffs hit home yesterday (16 April) when it was revealed Greg Hahn – one of the most-awarded creatives in the world – had lost his job as chief creative officer at BBDO New York. When your competitors are not advertising, it’s a better time to advertise.”, There could be some opportunities in the chaos, too. By registering you agree to our privacy policy, terms & conditions and to receive occasional emails from Ad Age. BBDO has gone through a round of layoffs across its U.S. offices, including BBDO New York CCO Greg Hahn and director of integrated production David Rolfe. If you're reading this online or in a forwarded email, here's the link to sign up for our Wake-Up Call newsletters. After a week of public and not-so-public announcements, The Drum has compared the different cost-cutting tactics of advertising’s biggest groups – right before the industry feels the full impact of the coronavirus downturn. BBDO New York parted ways with between 75 and 99 employees, including Hahn and Rolfe, a source with knowledge of the agency’s operations told Adweek, in addition to implementing voluntary executive pay cuts and an unspecified number of furloughs. Layoffs across other BBDO offices in the U.S. were roughly representative of the percentage of those cut in New York, which appears to be between 10% and 13%, according to this source, who added that those let go would receive health benefits through July. The New York office employed nearly 750, according to AdForum. BBDO layoffs include New York Chief Creative Officer Greg ... By Ann-Christine Diaz. According to Ad Age’s Jessica Wohl, the change was announced months ago, but shoppers are likely noticing it as they peruse their butter hoards. Follow . He noted: “We have no debt at S4 – we are cash positive and over the coming quarters we are going to be very careful with our balance sheet.”.
All you need to do is become a member of The Drum. But by Wednesday (14 April) the bad news had arrived: the UK side of the business was bracing for redundancies. Company confirms closure of retail media agency Triad; cites "dramatic changes in the retail industry, coupled with the economic conditions triggered by the global pandemic", Redundancy and furlough decisions being made at the agency level, not the holding company level, Leadership team taken 20% pay cut in Q2 – salary will be reviewed at the end of the quarter. - 2 days 5 hours ago, By That nearly wipes out all of the jobs created in the nine-and-a half years since the end of the last recession.
This article is about: World, Coronavirus, Career, Marketing, Agency. Sorrell will also offer predictions about the long-term effects on the ad market. With its new global chief Wendy Clark not due to arrive until September, Dentsu Aegis boss Tim Andree has yet to comment publicly on the effect the coronavirus will have on the business. Holy moly.
“Our principle is: protect our people to protect the company, so we’re ready when we come out on the other side of this ... but, realistically, we have to expect there will be layoffs,” he told Ad Age’s Lindsay Rittenhouse. We’ve had to make some tough decisions on pay cuts, furloughs, and, regrettably, permanent reductions.”. In a memo to staff, he made no hint of dark days to come and instead reassured them that “Havas is a solid group with a strong financial position, and I am confident we have everything we need to get through this”. We’ve seen a number of companies looking at their brand identities.”. Subscribe today and be educated, entertained and empowered. WPP's Mark Read reluctantly bracing for layoffs and BBDO parts ways with Hahn and Rolfe: Friday Wake-Up Call. If there is a silver lining, the pace of job losses is beginning to slow. The news follows an internal memo released earlier this week in which Omnicom CEO John Wren addressed a series of cost-cutting measures in response to the coronavirus pandemic including layoffs and furloughs across many Omnicom agencies. The unemployment rate could hit 17 percent this month, according to the New York Times, the highest level since the Great Depression. That does it for today’s Wake-Up Call. Around 3,000 senior leaders have already accepted this cut, Understood that furloughs and pay cuts have been implemented at, Board suspended £950m share buyback funded by last year’s, Hoping to generate in-year savings of £700m-800m, Furloughs and layoffs confirmed across “many” agencies; DDB and BBDO among largest networks to be hit, BBDO New York laid off “somewhere near the high double digits, but no more than 100”, according to, Agency leadership encouraged to resort to furloughs rather than permanent reductions, Holding company “actively” looking to move employees into areas of business that are growing, such as Omnicom Health, Forgoing awards shows and industry events across the company, John Wren forgoing salary through to September; executive leadership team, including network and practice area chief executives taking a 33% pay cut, No announcements regarding layoffs or furloughs made so far, Understood the company is actively “avoiding” layoffs during lockdown, Havas Health & You announced two top hires this week: Denise Henry as president and Suketu Patel as global chief medical officer, Top-level execs taking voluntary salary reductions, Steps taken among agencies so far include redundancies (or “reductions in staffing levels”), salary cuts, furloughs, deferred payrises, freezes in hiring permanent and freelance staff and “major cuts in nonessential spending”, MullenLowe among the first redundancy casualties in the US, with Adweek, It's understood redundancies are also hitting employees at MRM and Hill Holliday, McCann New York employees earning more than $60,000 taking a 10% paycut to protect jobs, However, other parts of the McCann business will not be immune to salary cuts, furloughs and redundancies, Cutting salaries by 10% across the board; AdExchanger, Layoffs, furloughs, reduced hours and a hiring freeze have also been implemented, Understood 360i and Mcgarrybowen are two of the first agencies to be hit by furloughs, paycuts and reduced hours, Redundancies to hit “most of” the group’s UK agencies and consultation on job losses to take place next week, Campaign, Employees unable to work from home have been furloughed, The Drum understands, Upper management salaries reduced by 20%; chief executive Arthur Sadoun and chairman Maurice Levy taking 30% paycuts, Cutting shareholders’ dividends by 50% and delaying payment until the end of September, Brought forward launch of Marcel outside of the UK; platform feature ‘Gigs’ section offers staff work on short term projects outside of their agencies, "Some" furloughs and headcount reductions – including at CPB, Cutback of discretionary spending across agencies, Salary and hiring freezes, as well as temporary compensation reductions of agents and leadership, Real estate consolidation in New York – slated to save at least $10 million a year – remains on schedule for later in 2020. A mascot no more: Land O’Lakes has redesigned its packaging, removing the “Indian maiden” that had graced the box of butter since 1928. Ann-Christine Diaz Find options at AdAge.com/membership.
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