Razorfish lays off 70
In the latest in agency layoffs, Microsoft-owned interactive agency, Razorfish, has laid off about 70 employees across its Portland, Seattle, Los Angeles and San Francisco offices. This represents around 4% of its total work force. This comes after laying off 40 from its New York offices in October.
“The workforce reduction is a difficult but necessary decision to effectively manage Razorfish's business through a challenging economic climate — some key clients in the financial and tech sectors have cut their budgets,” said Sally O'Dowd, public relations manger for Razorfish, who confirmed the layoffs, in an e-mailed statement.
Razorfish is offering outplacement assistance to the affected employees.
The statement continued, “Meanwhile, the net impact to our other clients is anticipated to be minimal. Indeed, despite challenging times, many clients continue to invest in digital marketing because it is measurable and delivers a higher return on their marketing spend. Our teams are fully staffed and we are prepared to meet our clients' needs now and in the months ahead.”
Crispin Porter & Bogusky last week laid off 60. It's also being reported that DDB Chicago laid off 20. Phone call and e-mailed inquiries to DDB were not immediately returned.