Update: VaynerMedia recently went through another round of layoffs on April 17 due to both restructuring and the business impact of Covid-19, a spokesperson said. According to the representative, roughly 5% of staff, or less than 45 people, have been impacted since the layoffs began on April 3.
VaynerMedia went through a round of layoffs this week.
The agency claims the move is part of a restructuring of unspecified departments and not directly related to the business impact of the coronavirus pandemic or any client losses.
“VaynerMedia is restructuring some departments; this restructure is part of the normal course of business,” the agency said in a statement.
The layoffs impacted a little under 5% of VaynerMedia’s staff globally, according to a source familiar with the shop. It’s unclear which departments or offices were impacted by the staffing reduction.
Last year, VaynerMedia grew its headcount to around 900 and the agency created three ads for the 2020 Super Bowl. It also ended 2019 with a series of executive hires. In October, VaynerMedia hired Rob Lenois from Grey New York as CCO, following the departure of former CCO Steve Babcock. The following month, the agency hired Wanda Pogue from Saatchi & Saatchi as chief strategy officer, filling a vacancy left by the departure of Justine Bloom around a year ago.
We will update this story should we receive any further information.
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Minda Smiley contributed to this story.