We first started hearing grumblings about this late last week, and now we’ve received official word that The Martin Agency announced a staff reduction across departments today. As a result, 38 people, or six percent of the agency’s workforce, has been let go including 35 in Martin’s Richmond HQ and three in New York. We’ve been told that among other things, “a decrease in productive client spending” and a need for “internal realigning” were reasons for the cuts.
According to the Martin camp, “Employees affected by this reduction will be offered outplacement counseling, and job search assistance as well as severance and extended heath care coverage. Additionally, the agency is “offering to pay any company one half of the first month’s new salary (up to $4000) for any employee hired in the next 30 days.”
With the cuts, current Martin Agency headcount now stands at 564.