The official word coming out of Ogilvy is that when the dust settled the total lay-offs came to 5% of their total work force. Also, that rumor that people were not allowed to take items from their desks and that those items would be mailed to staffers? Untrue. In the end, the layoffs happened and that just sucks.
The national unemployment rate will be released tomorrow and estimates are saying it’s going to be as high as 7%. Almost seven thousand people have been slashed across the advertising industry. Cambell-Ewald, poor souls, have dropped the most with an estimated number of 200 people now on the dole. Word on the street is the Leo Burnett is next to wield the axe. Look, it’s going to get worse before it gets better.
Naturally, laid off staffers have been keeping us informed about their recent activities.. Some are looking to start their own shops in an attempt to snatch up under-served markets. Others, are penning books. And still others have hit Monster.com like their life depends on it. Well, shit. It does, right?
We wish everyone the best of luck in weathering the storm. Wish us luck, too?