Omnicom To Cut 4,000 Jobs, Shutter Advt. Agency Brands Amid Interpublic Integration
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Omnicom Group is laying off over 4,000 employees and closing several advertising agency brands due to integration and restructuring after acquiring Interpublic Group. The acquisition, finalized on November 26, involved a stock-for-stock transaction. Job cuts are mainly in administrative and leadership roles, following previous cuts by both companies. The combined entity will operate numerous agencies but will close some well-known brands.
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