Vayner people: what’s the real story behind recent layoffs?

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I’ve been here two years and there have been at least 4 rounds of layoffs. Almost all of their video people were axed last year. They also bounced a number of creative directors. From what I understand there are a few reasons:

- A new CFO came on and there was an effort to reduce salary costs, so a lot of senior people were let go, in favor of younger people who cost less.

- They lack strategic direction and seem to go on hiring spree and then do a weird 180 and let all those people go. I’ve worked with a number of people that were in and out of here in less than a year.

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They let go of the good people, while retaining a bunch of mediocre ones.

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Gary isn’t minding the store—he’s off doing Brand Gary or a bunch of side projects that don’t seem to have traction. But,

He won’t let Steve be the guy, and nobody really knows if Steve even could be the guy. And,

Since “being the first brand on [this week’s Peach] is no longer a business strategy, either media or creative needs to step up. Because,

We’re paying rent on FOUR office spaces in NY alone. And, social is no longer a white space. So,

A lot of people are fucked. Everybody gives us hell because Gary is a joke, but there are good creatives here. Some got fired. We’ll probably end up doing what 360 and LS did and become a media shop. It’ll take a year though

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👆 true.

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What VM 1 said.

They hire like crazy then let go. Also last year they decided to get rid of Junior level employees almost entirely and replace them with residents.

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At least 7 senior level creatives were let go in the last week or so. 10 more in the last couple of months. Vayner is always getting rid of people, they’ve just gotten better at doing it discreetly.

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Used to work there - saw some solid mid level ppl I used to work with got axed. Haven't asked about it but it's puzzling

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Used to work there. there was ANOTHER layoff?!

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I there were layoffs I haven’t heard anything about it. If anything we’ve been hiring like crazy

Weird, they are hiring for an ACD in LA

Can confirm, purely financial decision.

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