In addition, most people in the New York office have taken a temporary 10 percent pay cut, including founding partners, partners, department heads and all group leaders.”, He added, “It sucks, but being naive or in denial would suck more. Our goal is to service our clients while protecting as many jobs as we can, and we will of course provide as much support as possible.". Are you a print subscriber? The furloughs, the spokesperson told Ad Age, were implemented "as a means to protect jobs and safeguard livelihoods.". Braeburn strives to foster high performing teams that are passionate about being on the front lines of addressing the opioid crisis. Ann-Christine Diaz Ron Magliocco, a senior VP with Epsilon who was part of Arc Worldwide—which focuses on retail and has clients such as CVS Pharmacy, Coca-Cola, Intel and MillerCoors—was perhaps the most senior-level person let go, Ad Age learned. - 1 month 2 weeks ago, By One person close to the matter told Ad Age that the furloughs were put in place for one quarter. A spokesperson for the company declined to go into detail so it is unclear how many people were affected. This comes after WPP CEO Mark Read recently warned that the holding company may have to resort to layoffs in an interview with Ad Age. It was important to us to provide all the support we could to those leaving, and are offering everyone at least four weeks of severance, healthcare coverage until the end of the year, and resume writing, interviewing, and networking services," Global CEO Sean Lyons said in a statement. Independent agency Giant Spoon has laid off 20 percent of its staff due to the coronavirus pandemic's negative impact on its experiential business. Giant Spoon said that it has been "forced to halt production on several 2020 experiential projects." "As a result of COVID-19 business impacts, we are activating a set of cost-saving measures across the company to ensure business continuity and to safeguard our people’s livelihoods around the world. Braeburn has one mission: to fight the opioid crisis. “Like many thousands of other businesses around the world we have seen our revenues dramatically reduce during the pandemic,” D&AD said. “Our people are our greatest asset at VaynerMedia and we are making every effort to protect them,” Founder-CEO Gary Vaynerchuk said in a statement. While we expect recovery for both our clients and therefore our industry, it appears it will not be a ‘V’ shaped curve and will undoubtedly take more time than hoped.”, The spokesperson continued, “Unfortunately, the result of this is job reductions in agencies whose clients were the hardest hit. In order to translate a document or PDF and keep *most* of the formatting, layout, images (and more) in place, the language translation software you are using must encode the file. 1Katz, J. Braeburn is a pharmaceutical company dedicated to delivering solutions for people living with the serious, often fatal consequences of opioid addiction. Independent agency Wieden+Kennedy, which had been on a new business tear before the pandemic, is laying off 11 percent of worldwide staff due to client cutbacks, Ad Age has learned. Braeburn Pharmaceuticals, Inc. provides health care services. Drug Deaths in America Are Rising Faster Than Ever. We want to thank all of those impacted for their incredible contribution to our agency.”. Braeburn Pharmaceuticals. The bottom line is the direct and widespread impact caused by the COVID-19 pandemic has done serious damage to our experiential business, which now consists of a core team including leadership, who are working to help clients find digital paths forward. Business Insider, which first reported the layoffs, said the cuts were concentrated in the agency's New York headquarters and affected about 40 people across all levels and departments. Braeburn is reinventing how a pharma company operates. WPP, which reported that its like-for-like revenue less pass-through costs fell by 7.9 percent in March due to the pandemic, also said it had implemented voluntary "salary sacrifice and part-time working. Watch. We work smarter by leveraging technology and fostering a collaborative environment that encourages individuals to share their talents and voices to bring ideas to life. The spokesperson said less than 2 percent of staff was cut in the latest round. "The company has taken steps to protect its business and global workforce amidst the global pandemic," a statement from Wasserman read. The person also said the layoffs were "isolated agency measures" versus holding company-wide and that many agencies did not undergo any layoffs. A VaynerMedia spokesperson confirmed that the agency “went through some additional staff reductions” on May 5. A spokesperson did not say how many employees were furloughed. Accenture Interactive-owned Droga5 has confirmed it cut 7 percent of its U.S. staff. Braeburn is reinventing how a pharma company operates. - 2 days 4 hours ago. Kassan declined to say how many people were affected, or whether the permanent staff cuts were also concentrated in the events and executive search divisions of the business. A key part of that plan includes a significant reduction in our staff numbers; and this also means we have had to reconfigure our senior management team.”. Dentsu Aegis Network confirmed that it has initiated salary reductions and furloughs across the holding company and its individual agencies, which include 360i, mcgarrybowen, Carat, Isobar and iProspect. “As a result, some of our agencies are impacted depending on their client portfolio. It is very collaborative, and everyone is extremely welcoming and helpful. Publicis Sapient, Digitas, and Rokkan cut staff, as well, according to Business Insider, which first reported news of the layoffs. Salaries posted anonymously by Braeburn employees. One of the biggest challenges I overcame at Braeburn occurred within my first few months of employment. Braeburn strives to foster high performing teams that are passionate about being on the front lines of addressing the opioid crisis. “Unfortunately, given the increasingly challenging environment, we have had to make additional difficult decisions, including position eliminations, furloughs and taking some employees to a reduced schedule,” the Weber Shandwick spokesperson said. "All of those affected will be provided severance benefits. The agency had already cut a portion of staff two weeks ago in a restructuring move not related to COVID-19, according to one person close to the business. Home Forums > Pharma/Biotech Companies > Happy Holidays from Cafepharma! The actions we have taken include cutting discretionary costs, salary reductions, shortened workweeks and, as of today, furloughs and staff reductions. Edelman laid off around 390 people, representing about 7 percent of its staff, as the COVID-19 pandemic has led to a widespread revenue downturn, according to an internal email obtained by Crain’s Chicago Business reporter Dalton Barker. This is the right time to come to Braeburn. It's simple to set up. A variety of actions across our agencies are being implemented that include salary cuts, freezes on hiring and temporary labor, major cuts on nonessential spending, and furloughs in markets where that option is available. "Since the coronavirus outbreak, Dentsu Aegis Network’s primary priority has been to protect our people, preserve and nurture our client relationships and to support the local economies and communities in which we operate," the Dentsu Aegis Network spokesperson said. The owner of agencies such as Laundry Service, Cycle and The Collective said it furloughed 5 percent of staff and laid off an additional 3 percent of its global workforce. Wasserman, the Los Angeles-based sports marketing and talent management company, confirmed to Ad Age that it has taken several cost-cutting initiatives, including furloughs and layoffs across the organization and its subsidiary agencies. Throughout the office the patient is front and center and keeps everyone focused on the goal. The agency behind some of the biggest SXSW activations in recent years, including "Bleed For the Throne" in 2019 and "SXSWestworld" in 2018, said in a statement that "the COVID-19 pandemic has done serious damage to our experiential business," forcing the layoffs. Those people say senior executives have also taken a pay cut and the agency has frozen new hires and raises. - 1 day 4 hours ago, By Braeburn Pharmaceuticals. We waited as long as we could to take this very difficult decision and in the U.S. we have extended the healthcare benefits to those affected and hired consultants to help our people find new employment.”. WPP's Grey will be furloughing about 3.5 percent of its staff in New York, Ad Age has learned. Log In. For other ways agencies are responding and adapting to the pandemic, check out this tracker; and for a frequently updated list of how marketers are responding, click here. "This was neither an easy, nor a simple decision. ", In its first-quarter earnings report, WPP said it had recently implemented further cost-cutting measures including reducing "headcount in certain areas." In my pharma career I've never felt more valued and included in … Braeburn Photos + Add Photo. A Dentsu Aegis Network spokesperson declined to comment on the layoffs. We are grateful for all of their contributions to the agency.". SYSTRAN translation software can translate large Microsoft Word documents with one click translation and keep the layout of the orginal even after the document is translated. A Saatchi & Saatchi spokesperson declined to comment. Share a Photo. See All Photos See All. 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