• New York Post, Tuesday, December 9, 2008 9:15 AM

Ad executives and recruiters expect the large ad agency holding companies to hand out a new flurry of pink slips early next year as the ad downturn worsens. Executives estimate that the holding companies--Interpublic, Omnicom and WPP--have already cut at least 1,000 jobs this year.

WPP agencies are bracing for cuts across the board in January after the company acquired UK research firm Taylor Nelson Sofres. The $2 billion deal raised concerns about WPP's debt load just as the ad downturn hit. Industry watchers also expect Omnicom agencies BBDO, DDB and TBWA to make deep cuts next year.

Interpublic is considering sizable layoffs if GM slashes ad spending further or gets rid of some car brands. About 900 IPG people are employed in Detroit with ties to the auto business. Insiders say any agency that touches the Big 3 is preparing for at least a 25% cut in ad spending.

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