Agencies Will Shed 52,000 Jobs In U.S. Through 2021, Forrester Predicts
- by Laurie Sullivan @lauriesullivan, October 27, 2020
Analysts at Forrester estimate U.S. agencies will shed 52,000 jobs through 2021, and the major holding companies will lay off or furlough 49,000 employees globally.
The flood of creative talent into the marketplace will spur a new wave of entrepreneurs as many establish their own businesses that deliver agency and …
I wouldn't be surprised to see the larger agencies move to robotic account ecexs soon, Dave. They would visit their clients and record their directions---and complaints---so these could be dealt with by a small core of humans at the agency. Could be a huge saving on T&E costs and rent, health benefits, etc. Meanwhile, the departed people ---including media planners, time buyers, researchers, "creatives", etc will mostly find homes at the advertisers' burgeoning in-house operations---but at half their old salaries.