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Layoffs at Crispin Porter + Bogusky

Industry shakedown continues
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Layoffs in the advertising industry are continuing this month.

On Thursday, Crispin Porter + Bogusky cut 43 of its roughly 900 employees. This move follows the Ogilvy Group's layoffs of nearly 60 staffers about two weeks ago at its New York and West Coast offices. In August, McCann Erickson in New York also handed out pink slips.

The reductions at Crispin impacted some 5 percent of the agency's total work force, which operates at six offices: Toronto; Miami; Boulder, Colo.; Santa Monica, Calif.; London; and Göteborg, Sweden. A spokeswoman for Crispin declined to comment on which offices were affected by the layoffs. 

"It’s no secret…that the economics of this business are changing. To continue as an industry leader, we are adjusting our operating model to be leaner and more flexible than ever," said Andrew Keller, CEO of Crispin, in a statement. "Our industry is undergoing a dramatic reinvention, economically and in other ways, and we embrace the opportunity that comes with change."