Gyro, the b-to-b agency Dentsu Aegis Network acquired in 2016, went through a round of layoffs at the beginning of the month, a source with direct knowledge of the shop’s operations confirmed to AgencySpy.
The layoffs impacted around 5% of staff across gyro’s U.S. offices and included New York creative lead Kash Sree, who joined gyro New York as group creative director in 2017, according to this source. Sree declined to comment.
Gyro’s round of layoffs were not directly related to the business impact of the coronavirus pandemic, but rather reflected revenue shifts earlier in the year due to changes in client business and account losses, according to a source with direct knowledge of the agency’s operations, who clarified that the shop found itself overstaffed for current client needs.
Gyro’s staffing reduction followed a series of cost-cutting measures across Dentsu Aegis Network agencies last month, including layoffs, salary reductions of 10-20% and two- to eight-month furloughs.
In 2018, Dentsu Aegis Network acquired business-to-business market research company B2B International and folded the entity into gyro.