How bad do we think week of thanksgiving layoffs are gonna be, assuming the deal goes through? Seems like IPG/OMH would try not to pay holiday time if possible.

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I doubt anything major happens week of. Omnicom needs to review ipgs books which they won’t have until it closes. All the major moves likely won’t happen until after January

likefunny

Fishbowl. Solid primary source lol.

Ad agencies make profit from having a lot of people billing, like law firms. They will fire people next year that aren’t profitable (not allocated to a book of business.) That is just experience talking, no insider knowledge. If you want job security become allocated to more than one book of business if you can.

likehelpful

It’ll either be in early December or mid January

likesmart

Layoffs confirmed across some OHG agencies this week

helpfullike

I’ve been told that fourth quarter is the busiest (and most profitable) time of year even with the holiday time off. I doubt they’d do anything to mess it up.

likesmart

Why do people think layoffs are part of this? When I read the merger reports, both companies had to commit to integration which did include, layoffs. I know Omnicom had a bit of a blood bath from first hand friends and IPG also slowly lost some in health and a huge wave in consumer. From what I read, it seems over beyond likely the back office culling of people who have duplicate roles.

I’m not trying to say it won’t happen or more won’t happen, I’m wondering where are the signs or reports that it could happen even deeper?

likefunny

Agree. There will be more, but at the end of the day they still need people to service these accounts. Most of the cull will be back office and execs like they’ve been saying all along

Remember that we need to service our clients. They can’t fire too many people and do that. The savings will come from a lot more than people. Consolidating real estate. Real estate if they’re number one expense of all holding companies after that, it’s their budget for cannes entries, dinners and hotels and travel for their “global creative offices”

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Keep an eye out for the auditors. I’ve heard they have EY (Ernst Young) determining who to lay off

helpful

No inside info. Im guessing Jan or Feb. but expecting big cuts. We shall see.

My hunch is that there will be significant Q1 layoffs.

Got some today over at my office. They didnt say who or how many.

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Hi Fishes

Please advice
I am currently working in TCS (11LPA 10 years Exp)

I have 2 offers in hand. TechM with 19LPA & DXC with 25 LPA (23L + 2L Variable)

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Thanks in Advance😀

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