Why is Publicis the only hold co not really laying people off? OPG, WPP, Omnicom, Dentsu and MDC have been a bloodbath. What is Pub doing right (or wrong)?

likefunny
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I know Omnicom had layoffs, and I think there have been some creative layoffs at WPP, but GroupM has been pretty quiet on the lay-off front. I’m not aware of serious layoffs in the media teams. I think the debt/balance sheets for the holding co’s kinda forces management’s hand. Hoping the situation is stable for Publicis folks.

likehelpful

Publicis has laid plenty of people over the years. But let’s say they were ahead of the game on consolidation a few years ago versus other holding companies that are merging now. Holding companies like Dentsu will suffer the most because they were on a heavy acquisition spree. So they will likely see the greatest consolidation and downsizing to absorb all that fat.

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Do you mean because of of consolidating redundancies or because of financial pressure associated with the acquisitions? I’m assuming the former because I think Publicis has a ton of debt from epsilon, but their offerings are more complimentary than competitive

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Publicis only lays off talented, hardworking, productive, loyal and award-winning people who are threats to their inept leadership. Since they’ve broomed practically all of them over the past several years, there’s really no one to lay off anymore. One cannot maintain systemic mediocrity any other way.

likeupliftingsmart

Publicis lays off people based on salary and ageism They are the masters of age discrimination. They just did it again at Leo Burnett and they they will continue to do it until the hacks who the run place are forced to actually do some real work. Sad display of mediocrity running the ship.

likeuplifting

Publicis will declare no one is being laid off because of coronavirus and congratulate themselves for managing the crisis better than anyone else ... then they'll quietly lay off a few people each pay period until everyone they mean to fire is gone. Starting with those who have hit 45 years old. This is the Publicis way.

likesmart

Arthur is extremely obsessed with PR and Publicis has a different financial reporting structure than the other holding companies. It’s coming soon, it’ll be really bad and I’d expect the press release will go out at 4:30PM on a Friday.

likesmart

Publicis has always been pretty been good about not laying people off compared to the other holding companies. It’s a double-edged sword because that’s also why we’re on hiring/promo freezes all the time.

likefunny

Me too, as were others. Publicis is just doing it in smaller rounds, almost monthly. I saw it coming as I had visibility into performance. Others will be shocked when it comes. Some existing biz is also at risk.

Oh, I've been through double-digit rounds of layoffs when working at Publicis agencies. My point is their immediate reaction to covid-19 market changes is a hell of a lot less reactive than their holding company peers. That's not to say there won't be layoffs later — if the market deems it necessary there absolutely will be. Advertising was ever a charity and I don't expect that to change any time soon. But in terms of attempting to keep staff for what is perceived as a potential economic resurgence, well, they're doing the right damn thing for once.

like

Loads of layoffs witnessed from inside at Publicis

likesmart

It's coming. Arthur was here this week.

likesmart

He was in Paris last week...

We’ve been ok so far. We’re owned by Vivendi. Maybe it’s a French thing?

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Headlines definitely do. It sells subscriptions. But seems the Omnicom story is more real than sensational with major creative heavyweights and top creative shops being hit.

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I don't get the impression it will be as bad as the other holding cos. From all I've heard, they are trying to hold onto as many jobs as possible rather than being reactive and having to fill roles in a rush later.

likefunny

They are trying to fill up the other agencies in the US first. Health has open roles & we are interviewing Pub people every day for secondments from across the network. But many roles will be filled soon.

likefunny

Well they have started the layoffs as announced on Thursday. Feel awful for those impacted at Publicis and other agencies and businesses. Hopefully this too shall pass

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By the time they get around to layoffs the unemployment funds will dry up.

like

AMD 1- media still has significant amount of work to do even when it hits the fan - reworking schedules, renegotiating buys, putting together “in these unprecedented times” plans, etc. Clients need all the budget reconciliation work to report uphill. Media cuts happen - but they’re typically later if/after their work slows.

like

I guess they were doing their best to weather the storm. Unfortunately the tidal wave caught up to them as well.

uplifting

Along same lines, why does it seem the creative arms are being impacted vs the media/shopper agencies of the holding companies. Is media better structured financially?

Fair sized contracts, but smaller than the old full AOR days.

likesmart

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