Parker : Draft / FCB Fires $7 million dollars worth of payroll
This is a freaking disaster for the staffers… it appears that Draft / FCB is firing everyone… Draft has been hit hard with a recent string of stunning losses… and overall has become the target of many media shots in terms of ‘what is going on there’… especially on Parker’s Blog.
Spies tell me that the worst agency in the known universe is laying off 7 million dollars worth of payroll. And, as I hinted in my last post, this is not down to “Louie” deciding he needs new titanium barbells in his private gym… It’s thanks to the Interpublic heavies..
Full Story
These problems are being called the ‘tip of the iceberg’ by many.. and not just focused on Draft… it’s focused Industry wide as the recession is much stronger than what was expected. We have meltdowns in the Financial industry, Car industry, Housing and runaway inflation in gas and energy prices and of course this trickles… scratch that.. waterfalls… into the advertising budgets of all these companies and the ad agencies that are their clients. This is a very hard industry to build up a company in during good times, it’s a nightmare during a recession.
EDIT:
Agency Spy is stating that it’s going to be 8 million dollars of payroll out the door rather than 7…
So that leaves a stapler, a broken printer, Chris Becker and some old yogurt. That and a bag of chips are the makings of great, award winning work.
That Hurts….
