Source: Ogilvy to lay off approximately 150

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Agency Ogilvy & Mather is laying off approximately 10% of its North American staff today, or around 150 people, according to an industry source. An Ogilvy spokesperson declined to comment.

The cuts are expected to affect Ogilvy's offices nationwide.

An industry source attributed the decision to the current economic turmoil, which is causing many of Ogilvy's clients to reduce spending. American Express, for example, is one of Ogilvy's clients and recently reduced its staff by approximately 7,000 employees in addition to implementing other cost savings measures.

The news from Ogilvy, part of media conglomerate WPP Group, follows closely reports that WPP would be instituting staff reductions across its family of agencies. A WPP spokesperson declined to comment.

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