PARIS - The first major layoffs at an ad agency attributable to loi Sapin, the law which could change the way media is bought and sold in this country, have struck at Young & Rubicam. Thirty employees, or about 10% of the staff, are in the process of being handed their walking papers. According to Jean-Pierre Villaret, ceo of Y&R France, 'Sapin has forced us to make courageous but tough decisions on staffing.' While there are still some questions left before it is completely enacted, Y&R is acting in anticipation of the bill's passage. Additionally, the recession in France may be a consideration. Villaret said that the cuts won't impact creative or account management. Other shops here, including Backer Spielvogel Bates and Lintas, enacted smaller cuts before Christmas. However, they are not officially being linked to the consequences of the media-buying law.
Copyright Adweek L.P. (1993)