Layoffs Near at Leo Burnett

Leo Burnett officials said the agency is considering layoffs in early February. According to a statement from the agency, the shop is considering making “staffing adjustments” that will “create value for our clients and the Leo Burnett brand.”

The agency did not say how many will lose their jobs, but sources estimated the number will be up to 200 in Chicago, which would be 10 percent of the workforce there.

The agency said the layoffs are not related to the pending initial public offering of parent company Bcom3, but rather will reflect “the evolutionary needs of our business and the realities of the current economic climate.” Those realities include the winding down of the agency’s $300 million Oldsmobile business.