In case you haven’t already heard about the layoffs that hit CP+B, which we’ve been told affects “less than five percent” of the agency’s global workforce, here’s the full statement from CEO Andrew Keller:
“This has been a strong year for CP+B in a lot of ways. We’ve expanded our operations in LA and in London and we’ve won some exciting new accounts. It’s no secret, however, that the economics of this business are changing. To continue as an industry leader, we are adjusting our operating model to be leaner and more flexible than ever. As we restructure towards our vision, we have made the difficult decision to lay off 43 of our 900+ employees. Our two main responsibilities are to our clients and to our employees. Being fiscally prudent and financially sound is critical to both. Our industry is undergoing a dramatic reinvention, economically and in other ways, and we embrace the opportunity that comes with change.”
We’ve mentioned that this kind of staff shift was possibly going on at CP+B in recent months, but guess we can say it’s now finally official. We’ve been told that layoffs were made across departments.