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Insulting to everyone who’s lost their jobs over the last 1-2 years. Agency networks are so worried about “inefficiency” and decreasing margins, yet they race themselves to the bottom with lower and lower rates and pay executives these absurd salaries. These uber-corp holding companies are so inefficient with their bloated c-suite, I hope we see them collapse under their own weight and boutique / specialty agencies sprout back up more and more.
Not only insulting to those who lost their jobs… but also current employees who have experienced extreme benefits cuts after this acquisition. If you max your 401k, Omnicom’s match is a total of $600. 😠 I make less this year because we were acquired by Omnicom. No one got raises. We are now RTO so add commuting expenses. Now only 10 days of PTO from unlimited. It’s insane to see his package when all of ours were destroyed.
I like the agency I work for and I love the people and clients I work with. But these cuts are making life and my overall positive attitude difficult to maintain.
I wish our industry would REVOLT
Folks keep on lugging themselves into the office, paying $5/gal for gas, paying for parking, and being yes men for the execs who don’t gaf about anything but their own pockets.
Every procurement negotiation should be referred to John Wren's office.
The cynical reality though is that he’s the head of a publicly traded company and he’s made shareholder rich and for whatever reason they reward that over good deeds so the value proposition for them is skewed towards his benefit. Also layoffs tend to increase revenue, regardless of long term value so you could say it’s obscene but it’s also the nature of this business.
If anybody got into advertising (and stayed in it) with the view that it was a creative or ethical business wasn’t paying attention. It’s those things in the moment, on the ground but it’s not a business that rewards good deeds and it’s literally in service of making other people rich so really why wouldn’t it itself be in the business of making its leaders rich.
Not something to be proud of but let’s be honest about what we do for a living.
Yeah, exactly GCD, what shareholders has he made rich? Omnicom stock is flat vs 1yr and -20% vs 2yr.
Outright greed of the highest caliber
Take the clients to an indie agency. Show them that working with Omnicom is just fleecing them.
His yearly salary allows him to avoid paying payroll and income taxes. Amazing how the top % keep winning.
In fairness, is your salary decided by fishbowl feedback? Or how much value your boss feels you bring to the company?
Clearly some, the board, think he’s worth that much.
I feel like he’s one of those people who eats that French dish where you have to keep your head covered with a napkin to hide the shame. Only he’d be eating the bird out in the open.
https://www.reddit.com/r/interestingasfuck/s/l6nA3IZBkm
It’s an annual thing and spans most agencies and sectors. Our outage changes nothing. 🤷♂️