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– NEW YORK
The Interpublic Group of Cos., New York, estimated that the global merger of New York agencies Lowe & Partners and Ammirati Puris Lintas will cost $100-115 million up front, but will reduce annual operating costs by up to $25 million. The bulk of the restructuring expenses stems from employee severance. Some 800-900 jobs were eliminated worldwide, mostly outside the U.S., leaving Lowe Lintas & Partners with a staff of more than 12,000, said Sean Orr, IPG chief financial officer.

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