Initiative Layoffs Include Familiar Faces in L.A.

Two of the market’s most visible media executives were among 14 staffers laid off at Initiative Media North America last week.

Dot DiLorenzo, executive vice president and group account director, and Bruce Hoenig, executive vice president of print negotiations, were among those let go at Initiative headquarters in Los Angeles. Other staff reductions were felt at the agency’s Atlanta and New York offices.

Lou Schultz, Initiative Worldwide chairman and CEO, said the cuts were deemed necessary following the agency’s failure to meet expected figures for dot-com billings and revenue.