End of agencies?

Out of context: Reply #33

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  • shapesalad2

    Ogilvy UK offers all staff voluntary redundancy.

    All staff at Ogilvy UK have been offered voluntary redundancy as part of the agency's radical restructuring drive. Employees have been issued a deadline of Friday (2 November) to apply.

    The news was broken to staff at a company meeting on Monday (29 October) in which they were told they had until the end of this week to apply. A source within the agency told The Drum that if the volume of opt-ins is too low, the company may be forced into compulsory redundancies.

    https://www.thedrum.com/news/201…

    https://www.campaignlive.co.uk/a…

    shapesalad 2Permalink
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    • Wow. Ogilvy, such a big agency is going bankrupt in the UK?NBQ00
    • Brexit or the ad game has changed? or both.shapesalad
    • Doubt it's Brexit. Hasn't come in effect yet. Probably just over-saturation of dinosaur agencies and more low-cost solutions for brands.NBQ00
    • Many designers on their laptops can nowadays do what a lot of agencies offer. Over-saturation and not enough work.NBQ00
    • Brexit has been in effect since the vote - business uncertainty, due to not even knowing what Brexit give us = budgets on hold, ad spend down.shapesalad
    • Brexit already had massive effects on the city - many companies pulling out or minimising spending while its happeningThe_Reprisalizer
    • Fuck me.Continuity
    • Also, looking at LDN jobs on linkedin, seeing a lot of 3/4/5/6 month only contracts. Never saw those contracts before besides maternity cover.shapesalad
    • Many of these roles are contract, with perhaps perm, which sounds like "we'll see if we're fucked post Brexit, if not we can commit to a hire."shapesalad
    • Brexit already hit hard. Lots of companies move here to central europe from GB because of the unknown future. And they bring their ad budgets with them.Longcopylover
    • Those big old agencies survive on those big retainers from the fewer and fewer businesses prepared to pay them. And brexit because it’s probably true.MrT
    • "redundancy" is British for "firing" right?i_monk
    • redundancy is business can't afford staff, so you get paid off depending on how long you you worked = how much you get.shapesalad
    • https://www.adweek.c…shapesalad
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