Grey Merge with AKQA, VMLYR merges with Geometry. Are those „mergers” just the coverups for potential wave of layoffs?

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I dont think they’re coverups for layoffs because Grey, AKQA and VMLY&R were some of WPP’s top performing agencies in 2019 and 2020. They’re supposedly all doing well. I think the mergers are a kind of lazy way to save money in 2021 and to get a stock price bump from the PR coverage of these mergers. In the end WPP will save on office rents, now redundant teams like HR and they’ll be able to upsell clients more in pitches. All of those can be positives, but mergers are hard, and if there are culture clashes or key leadership changes all 3 agencies might fall apart

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It’s not for layoffs but it results in layoffs. Keeps overhead low.

likesmart

This

The way I see it, it’s more about their offerings than cost saving. Only big, Fortune 500 type companies would work with these mega networks. And those companies are requiring more from their agencies. Put simply, big ad agencies failed to put a price on creativity so they need more to offer.

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This is so true, unfortunately

How cynical of you

funny

Ok

VMLY&R has been one of the strongest performers inside their portfolio over the last two years. A couple new biz wins prior to COVID-19 really went a long way. Thankfully, few, if any, were let go when Y&R came into the fold, so hopefully that’s the case with this.

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Yes

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