The tips have been flowing in like beverages in Austin over the last 24 hours and sources confirm, that yes, there were a large number of layoff at Modernista! yesterday. The story of the Boston agency’s unraveling was first reported by Adage two weeks ago, when co-founder Gary Koepke told the trade that the identity/approach of the once-virile operation could be changed forever.
And it looks like indeed it has come to pass, as we’ve been told that a “fair number” of staffers were let go by day’s end, which is all part of the agency’s effort to “scale back.” As Koepke mentioned to AdAge, Modernista! or whatever it will be known as is going to be focusing on cause-related projects including (Red) and the Clinton Global Initiative, which the agency’s leader is a member of. Spies tell us that a team working on TOMS’ new product (teased by founder Blake Mycoskie @ SXSW yesterday) was one of the only groups spared the axe. Exact numbers weren’t revealed, but it’s almost six months to the day that Modernista! revamped its executive team.