Saatchi & Saatchi Lays Off 8 Staffers

TORRANCE, CALIF. – Saatchi & Saatchi/Pacific laid off eight of its 278 employees to offset a lighter commercial production schedule from Toyota Motor Co. and the downturn in the business climate.
Though Toyota spending is expected to remain at around $320 million, creative executions have been reduced to 18 television spots this year from an average of 30.
In explaining the pink slips – which hit creatives, producers and support staff – Saatchi vice chairman/chief creative Stanley Becker said, ‘We held out a long time, when you look at what other agencies have done. New business isn’t booming for anybody so we had to make this change.’
Saatchi/N.Y. laid off more than 20 staffers last week. Michael Keeshan, president/coo, said an office restructuring, not client losses, caused the cuts, which may continue.
Copyright Adweek L.P. (1993)