Here’s how much cash these holding companies had on hand at the end of 2019: OMC $4.3 billion WPP $3.8 billion IPG $1.1 billion What should they do with it during this pandemic?

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I’d like to think IPG has less because they’re a better company. It’s the only holding company that consistently paid significant annual bonuses to employees.

likefunny

Can’t speak for FCB. Maybe media side is much better.

If they have any sense of community and civil responsibility, they will use the funds to avoid layoffs. The Fed is going to spend 2 trillion dollars hopefully to keep people working and get through this intact. Companies have a moral responsibility here. The only assets an agency has are us.

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They don't feel a moral responsibility when they do layoffs outside a pandemic...morality doesn't seem to be a business imperative.

uplifting
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Give bonuses to execs of course.

likefunny

Coupled with mass layoffs and in the next few weeks.

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That’s not nearly enough information by itself to make a decision.

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Pay the vendors whose ads aired two months ago that they still haven’t paid.

likefunny

You would have to net out current liabilities as well right? For example, IPG may have $1.1B in cash but owes half of it to someone else

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With that many billions wtf is their excuse for having ANY layoffs? They should be paying for full leave for Lal the employees who need it during this time of international crisis.

likeuplifting

Right on.

Survive.

likefunny

Omnicom definitely gonna sit on it or give it as bonuses and lay off staff at the same time

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Keep paying employees

likesmart

Most of that cash was paid by clients and is in the process of being sent to vendors. It’s not a piggy bank.

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welll ipg is firing a lot of people, and giving 10% pay cuts to all FT in some agencies

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Really what agencies?

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You use your cash pile to retain your best talent in a downturn. But, again, this only tells some of the story.

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MDC: -$900 million

paying employees, keeping the business in business

Pay their vendors

Does anyone know about what Havas had on hand?

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