Saatchi N.Y. Makes a 2% Staff Cut

NEW YORK Saatchi & Saatchi this week cut about 10 employees in its headquarters office here, or roughly 2 percent of its staff, sources said.

The move was not triggered by a particular account loss, according to sources. Rather, management was seeking to get costs in line with revenue, per sources.

Representatives of the Publicis Groupe-owned agency declined comment, but sources said the layoffs were made on Monday.

The New York office employs about 500 people across all disciplines, including support staff.

Key agency clients include Procter & Gamble, General Mills and Novartis.