TVNewser TVSpy LostRemote SocialTimes AllFacebook FishbowlNY FishbowlDC PRNewser 10,000 Words GalleyCat UnBeige MediaJobsDaily

CP+B Lays Off 60, Cites Economy

crispin+logo.jpg

Crispin Porter + Bogusky has laid off 60 of its 900+ employees, the company said in an e-mailed statement.

“In response to the current economic climate, advertising budgets are being reduced in virtually every industry. On a comparative basis, CP+B¹s business is doing well but we are not immune to the constriction of the economy. Our two main responsibilities are to our clients and to our employees. And in order to most prudently manage our business, we have taken the difficult step of reducing our staff by 60 of our 900+ employees.

We do not anticipate any further staff reductions. These are extraordinary times and we hope that we will not have to do this again.”

Even America’s “Agency of the Year” (Adweek) has to trim back now and again. In a time when flat is the new up, we’re hoping these folks at least went home with a few weeks pay.

More:Adweek’s Agencies Of The Year

Mediabistro Course

Community Management

Community MangementLearn how to engage your audiences and grow your communities! Starting November 5, you'll learn how to create network-specific posts to boost engagement, determine which posts can live on multiple networks, and build and pitch and editorial calendar. Register now!