MDC Partners agency CPB went through a round of furloughs this week, as well as what the agency characterizes as a small number of layoffs. It is unclear how many employees were impacted.
“Like everyone across the industry, we’ve been affected by the global pandemic. We have made the difficult yet unavoidable decision to furlough a portion of our staff, and layoff a small group. We’ve done everything possible to furlough instead of letting go of staff so that we can bring people back when circumstances improve,” CPB global CEO Erik Sollenberg said in a statement. “This is a necessary step so that we may continue to offer our clients the best service while planning for the future. Our people are our most valuable asset and we feel for them as well as everyone affected by this situation around the world.”
MDC Partners has yet to make any overarching statement around layoffs, furloughs or other cost-cutting measures at its agencies. CPB co-founder Alex Bogusky left CPB in January, after rejoining the agency a year and a half ago. In February, MDC Partners announced that CPB was forming a collective, or “constellation,” along with 72andSunny, Hecho Studios, Instrument and Redscout. CPB underwent layoffs in its Boulder, Colo., headquarters last June, which the agency characterized as part of a strategic restructuring.
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