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Deutsch New York is laying off 41 employees, Vonda LePage, the agency\u2019s EVP and director of corporate communications, told Marketing Brew via email.<\/p>\n
The layoffs will affect about 19% of its employees, according to Ad Age. The reduction largely stems from \u201ceconomic realities\u201d and the shop\u2019s loss of PNC Bank\u2019s account this summer to Arnold Worldwide, per the email.<\/p>\n
The IPG-owned agency will shift to a business model that prioritizes \u201cpermalancers\u201d for the purpose of \u201creshaping staff for 2024 with a tech-driven transformation approach versus a services only approach,\u201d LePage told us. \u201cWhile we\u2019ve taken great pains to refocus existing resources, including the reduction of real estate costs, these are gut-wrenching actions but necessary for the health of our business,\u201d a statement from the agency said.<\/p>\n
Affected staffers will be employed until the end of the year, and will receive severance packages. According to LePage, Deutsch is helping affected employees find new positions.<\/p>\n
Besides its current round of layoffs, Deutsch has undergone other staffing changes this year: In August, its CCO, Samira Ansari, left to join Ogilvy New York.<\/p>\n
Deutsch is one of several agencies that have downsized this year. Stagwell laid off 300 employees in Q1, while GroupM laid off more than 100 staffers in January. IPG agencies R\/GA and Huge also went through layoffs this year, after also making cuts in 2022.<\/p>\n
Agency executives have also faced a shakeup: In May, Goodby Silverstein & Partners New York laid off executive creative directors David Suarez and Danny Gonzalez, who went on to form their own shop, Bandits & Friends. And in August, Former Dentsu Media Americas CEO Doug Rozen left the agency as part of a broader reorganization.<\/p>\n<\/div>\n
Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"Get marketing news you’ll actually want to read Marketing Brew informs marketing pros of the latest on brand strategy, social media, and ad tech via our weekday newsletter, virtual events, marketing conferences, and digital guides. Deutsch New York is laying off 41 employees, Vonda LePage, the agency\u2019s EVP and director of corporate communications, told Marketing […]<\/p>\n","protected":false},"author":1,"featured_media":16919,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"content-type":"","footnotes":""},"categories":[78],"tags":[],"class_list":{"0":"post-16918","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-marketing"},"yoast_head":"\n
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