Omnicom plans to cut up to 3,500 jobs
An Omnicom spokesperson confirmed the plans, but would not say which agencies would be affected by this loss. BBDO Detroit, the agency that represents Chrysler, recently announced layoffs due to the car company's spending cuts.
“Given current economic conditions, our companies have reviewed their staffing levels as they relate to their current business requirements. Some, but not all, will have to make adjustments,” said a company statement. “We will end 2008 as we began it with a well-balanced mix of business by discipline and geography, outstanding teams and talent across all of our agencies, and an outstanding client roster. Economic challenges are faced by all businesses today but we believe that our well-diversified portfolio of businesses positions Omnicom well to withstand the current economic turmoil.”