MDC Partners has laid off several corporate executives as the network undergoes a reorganization — just days before it is scheduled to announce second-quarter earnings (Aug. 2).
Global CMO Bob Kantor is
parting ways with the company, as are several other staffers, primarily within the finance and operations teams, as first reported by Adweek.
Kantor had been with the company since 2009 and previously was CEO Publicis New York. At MDC, he was tasked with helping to develop strategic growth initiatives for company agencies via new business and the expansion of existing client remits.
During his tenure, he counseled a number of agencies on management practices, put together network wide collaborations and oversaw key new business pitches and wins.
The layoffs come after a "disappointing" first quarter that lowered expectations for the full year. At the time, the company cited client cutbacks, slower new business development and other reasons for the weak results.
An MDC spokesperson confirmed the departures but declined further comment.