Agency merger layoffs lose sting in hot economy

Snyder, Beth; Petrecta, Laura; Chura, Hillary
November 1999
Advertising Age;11/29/1999, Vol. 70 Issue 49, p10
Trade Publication
This article focuses on how the Internet industry has reshaped employees' attitudes about job security in the U.S., with advertising agency layoffs as a result of mergers, as of November 1999. At newly created FCB Worldwide, 4% of the New York office's positions were eliminated to reduce staffing costs. The agency insists the cuts had nothing to do with its merger with Bozell. But the merger did cause nine people, or 1% of Bozell's New York staff, to be dismissed in October 1999. Internet companies have certainly cushioned the blow for victims of staff slashing. Not only are Web-related startups hiring, job search Web sites are helping empower employees. Sites such as Monster.com and Hotjobs.com offer alternatives to calling headhunters and mailing resumes.


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