NEW YORK Nearly 30 Lowe staffers will lose their jobs to compensate for the Interpublic Group shop's loss of national creative duties on Verizon Wireless, the agency confirmed. The estimated $300 million account shifted to sister shop McCann-Erickson after the client launched a review last month.
Some 75 to 80 Lowe staffers worked on the account, said sources. About 35-40 are following the business to McCann and another 12-15 have been re-deployed at Lowe, according to sources. That left 25-30 staffers without jobs.
The staff cut of 5 percent and shift of 35-40 employees to McCann leaves a head count of about 530 at the New York shop.
Separately, Pile and Co., the Boston consultancy overseeing the Verizon Wireless review, started calling prospective agencies about the business this week, sources said. Interested shops will submit written responses to client questions and a video of the agency executives who would work on the account.
McCann is expected to participate in the review; Lowe will not. Media duties, which are handled by Zenith Media in New York, are not in play.