16 let go in round of M&C Saatchi retrenchments
March 21 2013, 6:00 pm | | 21 Comments
16 staffers from M&C Saatchi have been let go in a round of retrenchments today.
Says M&C Saatchi Worldwide Chairman Tom Dery: “We confirm 16 retrenchments across two businesses out of a total Sydney staff of 340. Some of that number took voluntary packages. It’s never nice to see people go but given the enormous pressure on margins that exist this is in line with sensible business practice.”
21 Comments
Always sad news. My sympathy to all those affected.
Holy fucking shit ballzzz can anyone confirm this?
I can’t attest to the actual numbers but it’s true sadly.
Who’d they lose?
Rubbish news but at least they waited till after Christmas. Good luck people.
Not true.Around twelve.
Pricks that we are, no one wishes this on anyone in the industry. Good luck to those affected, not that you’ll need it.
It was half that. About 10-15.
Still horrible for all…
It seems only last month that CB was reporting “Dery said the appointment represented a watershed moment in M&C Saatchi’s 18-year history: “Jaimes is a proven leader, problem solver and generator of new business. His experience in dealing with global ideas and digital businesses has equipped him well to lead our group into the future. Most importantly he recognises the value of ideas. And, aside from everything else, Jaimes is a great guy who’s personality will endear him to our staff and our clients.”
And there’s more to come unfortunately.
… guess this is what happens when you shave your margins to get business
M&C helping drive the Global Group’s revenue growth… by cutting staffs. bravo!
http://bit.ly/YlgBOp
@bravo $2.5m profit off $78m revenue. Wonder why the industry is stuffed.
thanks M&C for driving our industry margins down to rock bottom…..what goes around….
I know a guy let go at Ogilvy before Christmas with a baby on the way. That was bad. At least they waited till after Christmas here – never nice
This one time, at band camp…
Yep keep flogging em, bleed em dry!
I guess retrenchment is better than more 16hr days and ‘all’ weekends. Until you support your staff and treat them like the life’s blood they are; this is just a continuing spiral…. cause you keep dropping yr pants for the dollar!
Who’s next?
Man! People in this post are acting like they got cancer and are dying!!! Grow up already. Bloody hell people get fired in advertising daily… chillout on the sympathy yeah. No ones dead.
Oh dear.
The usual accusations about M&C from the usual suspects, generally from those from agencies that wish they were a quarter as successful.
Horrible news letting go of people. Always is but if you’ve read the newspapers rather than the comics you’d see some of their clients are downsizing.
Simple really.
Back to your kennels juniors.
M&C ya…
Down down, prices are… Oh – whoops, wrong article.