Around the Net

More Fires Than Hires At Ad Agencies

  • Ad Age, Tuesday, December 29, 2009 1:10 AM
Ad-agency jobs in October 2009 were down 14% from the recession's December 2007 start -- a loss of 26,300 jobs, according to Bureau of Labor Statistics data. Agency employment from January 2009 to October 2009 alone fell from 175,300 to 161,500, or nearly 8% That included WPP's Ogilvy & Mather laying off 4% of its North American head count this month.

While jobs have been shed and agency doors shut, there is a glimmer of hope indicating turnaround: stock performance. Shares in agency holding companies rebounded sharply in 2009, a sign that investors are betting on brighter prospects for the agency business.

Read the whole story at Ad Age »

Next story loading loading..