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Ad Industry Suffers in Spain

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MADRID - Almost 187 advertising-related businesses, such as agencies, photography studios and direct marketing firms closed, and 2,374 industry jobs were lost in 1991 and 1992 in Spain, according to the National Federation of Advertising Firms (FNEP). The job cuts were most severe at large agencies, where 458 people were fired in 1992. As a result, there are presently some 26,000 people working in about 1,445 ad-related businesses, according to the FNEP.
Copyright Adweek L.P. (1993)