CEO Mark Penn on How MDC Partners Is Weathering the Pandemic

Holding company has implemented pay cuts, furloughs and layoffs in recent weeks

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Mark Penn, CEO of MDC Partners, said the holding company’s agencies—which include 72andSunny, Anomaly and Doner—have, on average, reduced payroll by 10% in response to the business impact of Covid-19.

“Each company really had to formulate its own plan based on what would be appropriate for the kinds of clients they have,” he told Adweek. “It’s gone company by company.”

Penn said cuts have been made through a mix of pay reductions and furloughs, but did not share the extent of layoffs at individual agencies.

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