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Agencies have suffered layoffs and furloughs this year largely due to Covid-19, which spurred many brands to cut, reduce or delay marketing spend.
A report from market research firm Forrester estimates that a total of 35,000 agency jobs will be cut this year in the U.S. as a result—and that 17,000 more will be gone in 2021.
Jay Pattisall, a principal analyst at Forrester who worked on the report, said he’s tracked 35 agency layoffs this year.