The Many has had two huge rounds of layoffs in like 2 months. How will they get anybody to come work with them moving forward? Will they have to change their name or something? Who wants to work somewhere where there is something around every corner.

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Sweet summer child

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EL OH EL

Replace "the many" with any other agency lol. It's a common business practice.

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This happens at a lottttt of agencies, so i dont think theyll have to change their name

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It helps to remember that these are just billable hours businesses. If we charge clients more money in billable hours than we pay in salary and expenses, then we make money. It’s not like Tesla or Amazon or something where the business can lose money for twenty years straight, but investors still fund it because they see a massive payoff coming. If an agency is spending more than its making for even a few months, whoever owns it most of the time won’t tolerate it. Which means staffing ups and downs will keep happening.

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This is what I don’t understand about advertising. Hiring and firing over and over. And everyone falls for it, over and over, and goes to work with agencies with a reputation of chronic bad business management. I asked my agency when I interviewed about layoffs, they said no layoffs. Nine years later, no layoffs.

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I’d suspect that pharma agencies have layoffs at significantly lower rates than consumer. Generally, I don’t think any agency can promise “no layoffs” since that’s up to the budget more than whichever middle manager you’d meet on an interview.

Lose enough clients and money to the point where there’s no work, and I’d kinda expect layoffs.

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Well it’s no longer The Many, that’s for sure #toosoon

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I think a lot of their layoffs were contractors and freelancers too just FYI

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Not sure why a company with any understanding of PR (which an ad agency should have) would announce that it is "laying off" freelancers.

The few. The proud. The Many.

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A brutal mix of poor planning, disconnected leadership, and client constrictions. Them’s the breaks for a small independent that doesn’t have a network to float a bad quarter or two with a scary economic outlook looming. DM if you’re interested in discussing more than gossip.

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They'll change the name to The Few. In all seriousness though, what lead to drop in business? A run of bad luck, changes in leadership? I don't know much about them--I've just seen the recent headlines.

It was Google shopping. But also mismanagement of hiring too many without a sustainable plan.

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Recently accepted an offer at Twitter (I haven’t resigned yet thankfully) and of course have yet to hear back since the news of the layoffs.

Am I crazy to move forward if the offer isn’t rescinded? I’m deflated after many rejections, unhappy in my current role and the role is something I’m passionate about - I’m also no better off in terms of TC and frustrated since there will be no RSU package due to the acquisition.

I have very mixed feelings after how they treated their staff this week!

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