Lowe Trims Its N.Y. Staff by 5%

NEW YORK Interpublic Group’s Lowe today confirmed cutting 24 employees across all departments.

That accounts for about 5 percent of the agency’s New York office staff of nearly 470 employees.

“Like any business, we have to keep our staffing in line with client needs, and with our vision for a stronger future,” said an agency representative.

The layoffs included senior managers up to the executive vice president level and came as a result of recent client losses.

Those losses included a substantial part of Unilever’s Omo business (the Wisk detergent brand in the U.S.), as well as the Century 21 and Great Atlantic & Pacific Tea Co. (A&P) accounts.

In addition, Lowe has seen its lead broadcast duties on Macy’s shift to project work. Macy’s parent, Federated Department Stores, this summer decided to take Lowe off retainer. A&P hired Lowe in the spring to handle creative and media for five brands, but A&P took its business in-house before Lowe was able to produce any work.

—Adweek staff report