MDC Details 2020 Staff Cost Reductions

MDC Partners detailed some numbers on staff and related cost savings in its 2020 annual report released this week. 

The company reported its staff totaled 4,866 at year end, which is 781 fewer employees than it reported for year-end 2019. 

Like the other holding companies, MDC cut staff to adjust for pandemic-related declines in business last year. Across its divisions, the firm reported having $136 million less in staff costs than in the previous year. 

However, the company has reported fewer employees in each of the last four years going back to 2017, when the employee count was 6,200. 

But growth is in the offing: Earlier this month, when it reported year-end results, the firm said it’s planning on 7% to 9% organic growth for 2021. 

If realized, that growth by itself should result in additional staff to manage the increase in business. Also, the company will be a significantly bigger entity by mid-year, assuming its merger with Stagwell goes through as planned.



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