Saatchi & Saatchi Respond To Ad Recession With Major Job Cuts
Saatchi & Saatchi is to make up to 10% of its UK workforce redundant in a cost cutting measure thought to be in response to the global advertising recession. It is thought that this action by the advertising agency will be the first of many as the industry prepares to face revenue losses.
As yet, the majority of other agency staff cuts have been in the US, where the advertising recession has bitten deeper. Agencies who have made cuts in London offices have so far kept them on a small scale. New chief executive, James Hall, is making what will amount to around 50 London Saatchi & Saatchi staff redundant barely a month after his arrival in the job from the company’s New Zealand office.
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