Ad holding company giant Havas laid off about 200 people as clients slash spending - Business Insider

have cut tens of thousands of jobs as clients cut spending amid the coronavirus.

This week, Paris-based Havas became the last of those companies to make cuts, shedding around 200 jobs at agencies Havas and Arnold in the US and an undetermined number in London, multiple people told Business Insider.Clients have slashed spending due to the coronavirus pandemic A Havas spokesperson said the company expects its business will eventually recover, but that this trend will not be the V-shaped curve many hoped for.

"COVID-19 has had a significant impact on several of our clients, varying greatly depending on business sector and geography," said the spokeswoman. "As a result, some of our agencies are impacted depending on their client portfolio." Havas's clients include TD Ameritrade, Puma, Dr Pepper, and pharma giant Reckitt Benckiser. Arnold is best-known for the Progressive Insurance ads starring spokesperson Flo.Havas is privately owned, by French multimedia conglomerate Vivendi, which has helped it stave off cuts until after public holding companies like

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