New York City, New York-based Omnicom Group, a global media, marketing, and corporate communications holding company, has announced a post-merger restructuring and reduction in force after completing its $13.5 billion acquisition of Interpublic Group.
The restructuring will impact 4,000 employees. The job cuts are in addition to the 3,200 roles IPG shed this year ahead of the acquisition, and the 3,000 staffers Omnicom let go after announcing the deal last fall. Layoffs are expected to be completed by the end of 2025.
According to Chairman and CEO John Wren, "The expertise and dedication of our leadership team and the promise of our Connected Capabilities make us uniquely positioned to turn this moment into a catalyst for intelligent growth – for our people, our clients, and our shareholders. I am proud to welcome the people, agencies and clients of Interpublic to Omnicom and create a global community of the best and brightest professionals in the industry, all of whom will have access to the most advanced AI tools and Omni, our advanced intelligence platform. Together, we will be the go-to company that shapes how brands grow, people connect, and culture evolves."
The restructuring will allow us to achieve and exceed the synergies we promised the marketplace last December. This will bring the total number of eliminated positions to around 10,000, or roughly 8% of the combined organization’s 2024 headcount.
Change is constant, and it's coming. There will always be a tomorrow, no matter how much you may try to ignore it. There are no guarantees in life, nor promises of a bright future. We see good people being laid off through no fault of their own. Just because something terrible hasn't happened yet doesn't mean it won't. It can happen to anyone, at any time, anywhere. No one is guaranteed to wake up tomorrow and still have a job by evening. While many employees can read the writing on the wall, why do most assume it’s targeted at someone else? Are you now wondering, Am I Next?