Omnicom to fire 3,500 people
December 17, 2008
It literally hit the fan. Omnicom is to fire 3,500 people according to Adage .. and it’s gonna get worse. All the major holding companies are in a downward spiral that will entail economic hardship for thousands of individuals. Their clients are flocking away from them and decreasing spending at record levels… great depression levels.
Chrysler Agency BBDO Believed to Be Most Vulnerable and for good reason this news is on the heels of Chrysler announcing a blanket idling of all their plants what is also breaking at the same time..
In this case things are degrading at such a fantastic pace we are not sure if the companies will go out of business prior to notifying their advertising agencies that they are out of business.
Ad Age is also reporting that Chrysler is believed to owe the holding company some $80 million.
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[...] is about to allow the auto companies to go into bankruptcy, all the ad agency holding companies are firing people like no tomorrow….. and the Bob’s from Office Space are the new growth [...]
[...] to allow the auto manufacturers to collapse into bankruptcy. As it stands now Chrysler owes Omnicom 80 million dollars … and if that happens it appears that Omnicom will not get paid if the bankruptcy judge [...]
[...] Interpublic Group inc is reportedly firing up to 2,000 staff, just one day after Omnicom group inc announced it was firing 3500 people. [...]
[...] Inc if Chrysler will go into Chapter 11 bankruptcy. At one point in December Chrysler owed Omnicom 80 million dollars, and a bankruptcy will further expand those [...]
that seems very sad and it is because rite now I am experincing something like that because my dad doesn't have a job and we don't have money its very sad I feel like I can't take it anymore.:-(