• by Joe Mandese  @mp_joemandese, April 2, 2009

Citing the downturn in the economy, Havas' MPG Wednesday announced plans to restructure its U.S. operations. An agency spokesperson declined to specific exactly how many people would be affected by the move, but she said it would primarily impact MPG's U.S. headquarters in New York, but that other offices, including MPG's Boston hub, would also see some cuts.

Adage.com reported that "more than 40 senior-, mid- and junior-level executives" would be affected by the restructuring, while Adweek.com reported that 50 people would be let go.

The cuts come despite a recent roll of new business for MPG, including CBS Corp.'s new $100 million CBS Films account. Other recent new business wins include Virgin Mobile, Carnival Cruise Lines, Jones Apparel Group, and Swarovski.

The restructuring also comes only three months after Shaun Holliday was named CEO of MPG North America, succeeding long-time MPG chief Charlie Rutman, who remains a consultant to the agency.

"We are experiencing good momentum in the marketplace due to our recent successes expanding core client relationships and winning new business," Holliday said in Wednesday's statement. "Cost reduction initiatives, such as those announced today, are not about shrinking the business into a more profitable core - on the contrary, they are about funding and fueling growth."