Foote, Cone Cuts 10% of Chicago Staff
Nov 16, 2001, 12:00 AM
Advertising agency Foote, Cone & Belding, a unit of Interpublic Group of Cos. Inc., has cut about 60 employees - 10% of the work force - at its Chicago office. The job cuts came after the firm lost -- at least temporarily -- the accounts for Coca-Cola Co.'s Dasani bottled water and Powerade sports drink. Last week, Coca-Cola rescinded the shift of the accounts to FCB, pending resolution of a lawsuit wich resulted from PepsiCo seeking to block four FCB employees from working on Dasani and Powerade accounts, alleging they would violate Pepsi's trade secrets. In February, FCB, then part of True North Communications, lost PepsiCo Inc.'s Gatorade, Tropicana, and Aquafina water accounts when True North was purchased by Interpublic -- an agency long affiliated with Coca-Cola.