Do you think more agency layoffs are on the way, or are we now in the recovery phase?

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More layoffs

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^ more

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Poorly run agencies will continue to have layoffs. Well run agencies who hustle will start hiring again (some already are). It’s the same story as all the agencies who went out of business in 2008. They were replaced by the good, bigger agencies or small startups like Pereira O dell

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Those with enough cash are also laying off. They are protecting that cash. It’s not that most had to, it’s that it was easy to do it then. Define well run vs not as well run by defining for whom? Shareholders, clients or employees.

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I think the government is making recovery a near impossibility at this point.

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Agree - you can’t wish away the problem. Economy and public health are intertwined. It’s impossible to pick one over the other as a result.

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Ad agencies lay people off when times are GOOD. We will continue to see them for the rest of our industries life

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Absolutely. The model for agencies is: win business you hire, lose business you fire. No matter the economic environment. There are pretty specific financial metrics that drive the business. In a holding company model it’s pretty consistent.

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More layoffs for sure. Projected economic recovery is about 9 years away. Plenty of time to cut.

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More layoffs, especially if holding companies refuse to adjust their margin expectations.

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It felt like for a while we were on the road to recovery public health wise and therefore financially. Now, with governments and people making poor decisions, looks like we’re about to tank public health, which will in turn tank the economy.

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More lay-offs

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More layoffs.

My agency announced layoffs happening next week, so I guess more.

My agency hired about 75 people since pandemic started. And no lay offs. I am glad I am here. But that’s not the reality... most of the agencies fire, at any time, crises or not, just because they are huge corporations focused only on numbers.

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