No official word as of yet, but sources tell us that Hill Holliday has made some cuts today. A source familiar with the IPG-owned agency tells us that cuts, which we hear affects less than the 10 percent of agency staff that’s been reported, but it is primarily due to the loss of most of the Liberty Mutual account which happened in December. If you recall, HH had been working with the financial institution since 2005 but lost the biz to Havas Worldwide and Optimedia on the creative and media side, respectively, last year. The review actually began in summer of 2013 if you recall. We’re awaiting a full message from Hill Holliday and will update when we receive.
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