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Chief
Good cause 2023-2024 was too abundant
We lost a client because of tariffs. Their entire business relies on the cost of aluminum which skyrocketed and thus eliminated their marketing budget.
I worry a big avalanche is coming. Companies are currently tightening up to prepare for the craziness, but once that 90 day pause lifts, it's going to get crazy again. I think this is the calm before the storm.
This. Businesses will be wanting to get their finances in a row for the next quarters earnings so the bad news will be coming for adland. It’s one thing to raid the marketing budgets but pretty much every part of a business is going to be cut if you’re paying tens of millions in tariffs overnight
We just all but lost a global client. Their budgets were gutted. 7 campaigns killed. Not sure what happens now but layoffs likely.
Art of the deal
I haven’t got time to worry about Trump. The fat cats at Omnicom and IPG who will line their pockets while carving up agencies under them, cutting people like me who’s too old to land another decent paying job in advertising. One rant at a time please.
I’ve been fortunate. As a former CD who is now a freelancer, I have been the beneficiary of financial downturns on a few occasions. In 2001, I pulled in a few big projects from Disney, Monster.com and Virgin as well as a few juicy broadcast projects. In the 2008 crisis I was laid off by my agency and hired back as a freelancer the next week which turned out to be a nice bump in income. And this month I picked up a dozen new gigs. I guess it pays to have agency chops for a fraction of the agency cost when clients get nervous.
100% referrals from my four decades of connections. I have a very deep Rolodex and I’m making new connections all the time.
A lot of industries are revising their projections for the year downwards. Advertising will def be cut, 100%
No news is bad news unfortunately
I work for an agency under one of the holdcos. After months of building up review season and promos/raises, rumor is it’s being paused at holding co-level across all agencies. I think we’ll all be lucky if there are not more severe layoffs in the pipeline.
All of them