MDC Partners agency 72andSunny went through a series of layoffs last week across its offices in North America.
“Like many other businesses, 72andSunny has felt the impact of the global pandemic. We’ve taken multiple actions to cut costs over the last two months. Unfortunately, today we find ourselves in the difficult position of having to part ways with some of our staff in North America,” the agency acknowledged in a statement. “We’ll do our best to support them and one another throughout this difficult time. We remain committed to supporting our people, partners and broader communities, and remain steadfast in the belief that the power of creativity will continue to drive positive impact in the ever-evolving world.”
The layoffs impacted less than 10% of agency staff, with 72andSunny also implementing or already having initiated other cost-cutting measures including executive salary reductions, suspending 401k matching, reducing some employees to a four-day workweek at reduced pay and furloughing some personnel with hopes of bringing them back at a later date, according to a source with knowledge of the agency’s operations.
72andSunny is working with employees who have been laid off on a number of supporting measures, including extending health benefits, providing referrals and finding job availabilities, this source added.
Last week, fellow MDC Partners agency Anomaly confirmed it had implemented a series of furloughs, salary reductions and reduced work schedules across the shop, following a previous round of layoffs at Anomaly’s New York office last month. Earlier this month, MDC Partners agency CPB went through a round of furloughs as well.
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