Coronavirus

IPG Mediabrands Implements Furloughs and Layoffs Across Agencies

Less than 5% of its employees were let go

IPG Mediabrands' announcement follows IPG CEO Michael Roth addressing measures across the holding company.IPG Mediabrands

By Erik Oster

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IPG Mediabrands went through a series of cost-cutting measures today, including furloughs and layoffs, across all of its agencies due to the impact of the coronavirus pandemic.

“As the current health crisis continues to impact our clients, we have had to make decisions to adjust to the new economic realities,” an IPG representative said in a statement. “In alignment with IPG, we are instituting a range of actions to reduce expenses, including deferring all increases, taking salary cuts, furloughs and, as a last resort and only if unavoidable, making some reductions in staff.”

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