TN/BJK&E Deal Results In 604 Layoffs

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True North Communications’ acquisition of Bozell, Jacobs, Kenyon & Eckhardt is resulting in the elimination of 604 staff positions.
According to the company’s 10-K annual report filed with the Securities and Exchange Commission on March 31, “296 employees had been terminated in accordance with the [post-merger] plans. True North expects the remaining terminations will be accomplished in 1998.”
Donald Seeley, TN chief financial officer, called the staff cuts “a nonevent” that will have “no major impact” on the agency’s operations.

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