Periscope, the Minneapolis agency which was acquired by Quad/Graphics for $132 million last November, went through a round of layoffs at the end of last week.
According to an agency spokesperson, the layoffs were attributable to the standard industry attrition to more efficiently meet client needs. They reportedly impacted under 3 percent of staff, or fewer than 20 employees.
Here is the statement in full:
“We parted ways with 3% of employees this week in order to better align our people to meet the needs of our evolving client partnerships. While this is a normal part of agency business, it is sad to say goodbye to some great people and we wish them the very best.”
The layoffs follow the arrivals of executive creative directors Heath Pochucha and Jason Bottenus from Deutsch and Fallon, respectively, last November. Last October, the agency declined to participate in a review to defend the North America media account for Great Clips.