Layoffs Expected at Leo Burnett

CHICAGO – Insiders say that at least 3% and possibly more of Leo Burnett Co.’s 2,200 staffers are expected to be cut loose over the next couple of weeks either through early retirement or layoffs. So far, insiders say that roughly 25 staffers were given the option to accept early-retirement packages, which sparked rumors of a big layoff in the coming weeks. A spokesperson would only say, ‘We are in the midst of the 1994 planning process. During meetings over the next few days we will be carefully evaluating our staffing needs for the coming year.’ It would be the second time this year the agency has had to make a cut. Insiders say that budget cuts, and an overall reduction in full-rate commissions may necessitate the new wave of current cuts.
Copyright Adweek L.P. (1993)