Publicis Groupe began reducing staff across its US agencies this week after major clients like Disney and L'Oreal slashed their ad budgets.
Agencies have responded with a combination of salary cuts, reduced hours, and layoffs in the mid-to-low three digits. Its data firm Epsilon eliminated a small number of jobs in April and is expected to go through another round of cuts next week. Publicis is the last of the major holding companies to reduce staff in the US due to the economic effects of the coronavirus.Ad holding company giant Publicis Groupe began an extended round of staffing reductions at its US agencies this week, sources said, as the effects of the coronavirus continue to cut through the advertising industry.
Publicis agencies have been making a combination of salary cuts, reduced hours, and layoffs, with its data firm Epsilon most directly affected. The cuts were by confirmed by four people who have direct knowledge of the cuts, three of whom are current Publicis employees. All are known to Business Insider but requested anonymity because they aren't authorized to discuss the matter.
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