At the risk of sounding both naive and insensitive, we pose this question to you, oh beloved readers. When CP+B cut about 7 percent of staff (60 of 900+) yesterday, we were naturally taken aback. First, they offered the info up on a platter (not only to AgencySpy, but most of the other trades published the news within minutes of our post going up) — at first it felt like transparency but at second glance it feels a bit fishy.
Excuse our skepticism, but citing a down economy as a reason for cutbacks when your agency has been kicking all kinds of ass, and winning $300 million accounts, feels like a thinly veiled excuse to lop off a few extra salaries and bolster the bottom line.
We’ve heard rumors that at least one large agency is planning to do just that. So as not to cause a panic, we’ll refrain from naming it here. But we will say that the shop we’re thinking of is not unlike Crispin.
What do you think of CP+B’s move? Are they hurting, using preventative measures or using the economy as an excuse to cut costs? Screw the poll, tell us what you think.
More: “CP+B Lays Off 60, Cites Economy”