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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