AM I NEXT? NO LOVE AT IPG MEDIABRANDS

New York City, New York-based IPG Mediabrands, an advertising/public relations/marketing agency, has announced a post-merger reduction in its workforce after the loss of a client.

The personnel adjustment will impact 103 media-buying employees located in Los Angeles, California, and is scheduled for January 2, 2025.

According to a company spokesperson, “Regrettably, we informed a portion of our team about the need to reduce our workforce in light of a recent client loss. We are committed to supporting the transition of those impacted by providing resources, severance payments, and continuation of benefits. These decisions are the hardest ones to make in our business, and we are grateful for the many contributions this team has made during their time with IPG Mediabrands.”

Change is coming. There will always be a tomorrow, no matter how much you may try to ignore it. There are no guarantees in life or promises for a bright future. We see good people being laid off through no fault of their own. Just because something terrible hasn't happened yet doesn't mean it won't. It can happen to anyone, anytime, anywhere. No one is guaranteed to wake up tomorrow and still have a job by evening. While many employees can read the writing on the wall, why do most assume it’s targeted at someone else? Are you now wondering, Am I Next?

AM I NEXT? NO LOVE AT YAHOO! (03/24/24)

MARCH 24, 2024 — 1,600+ LAYOFFS

The company has announced plans to lay off more than 20% of its total workforce as part of a major restructuring of its advertising technology unit. The reduction in force will impact more than 50% of Yahoo's advertising technology employees — more than 1,600 people.

According to a company spokesperson, “These decisions are never easy, but we believe these changes will simplify and strengthen our advertising business for the long run while enabling Yahoo to deliver better value to our customers and partners.

Yahoo’s previous strategy in the ads business was to offer a “unified stack” consisting of a demand-side platform (DSP), supply-side platform (SSP), and native advertising platforms. However, “Despite many years of effort and investment, this strategy was not profitable and struggled to live up to our high standards across the entire stack,” and as such, it will shut down the SSP side of the business.

CEO Jim Lanzone noted that the sunsetting of an older business model would be “tremendously beneficial for the profitability of Yahoo overall.”

FEBRUARY 24, 2023 — Original post…

Sunnyvale, California-based Yahoo!, the iconic web services provider, has announced a major reduction in force.

The job action will impact 1600 employees or 20% of the workforce.

Yahoo CEO Jim Lanzone noted, "that these layoffs are not a result of economic issues, but rather, they are intentional changes to strengthen the unprofitable Yahoo for Business advertising unit."

“These changes announced today are entirely within the context of creating a better business plan for that division going forward. The company has taken many bites of the apple here in trying to make it work over the years, but as a standalone company, we had to take a very honest view of how we apply our resources. The company is “very profitable. We would’ve made these changes even at the peak of the market.”

Change is coming. There will always be a tomorrow, no matter how much you may try to ignore it. There are no guarantees in life or promises for a bright future. We see good people being laid off through no fault of their own. Just because something bad hasn't happened yet, doesn't mean it won't. It can happen to anyone, anytime, anywhere. No one is guaranteed to wake up tomorrow and still have a job by evening. Are you now wondering, Am I Next?

AM I NEXT? NO LOVE AT IMPACT.COM

Santa Barbara, California-based impact.com, an online platform provider of collaborative services to the marketing industry, has announced a 10% reduction in its workforce.

The decision was driven by declining market conditions as marketing budgets are pared back to meet recession-driven market shifts.

David A. Yovanno, CEO, and Per Pettersen, Co-Founder of impact.com, commented,

“It is with sad hearts that we inform you that we’ve had to make organizational changes and reduce the staffing level of the company. We developed a very ambitious plan for impact.com at the start of this year based on both our vision for the business as well as what the market was rewarding at the time".

“Halfway through our fiscal year now, it is very clear that macroeconomic conditions have changed in a once-in-a-generation way; therefore, we must change how we are operating the business going forward if we are to fully realize our vision of becoming the global standard platform for partnerships."

We took multiple measures first — from significantly slowing hiring, reducing discretionary and overhead expenses, and limiting travel, along with a 15% pay cut for executive leadership — however, all of these reductions were not able to fully counterbalance the worsening market conditions. We do not take the idea of layoffs lightly; however, unfortunately, we could no longer avoid it. As we’ve all seen, what impact.com is experiencing is not unique. These conditions will affect or are affecting, every e-commerce business and the ecosystem that surrounds it, as many news outlets have already reported."

"impact.com will weather this storm and come out on the other side by focusing on our clients and core business priorities. To those leaving us this week, we want to say thank you and we appreciate your contributions toward making impact.com what it is today. Thank you for making impact.com a special place that has that ‘thing;’ a company that we are proud to be part of every single day. Our story is extraordinary because all of our employees, past and present, have contributed to it."

Change is coming. There will always be a tomorrow, no matter how much you may try to ignore it. There are no guarantees in life or promises for a bright future. We see good people being laid off through no fault of their own. Just because something bad hasn't happened yet, doesn't mean it won't. It can happen to anyone, anytime, anywhere. No one is guaranteed to wake up tomorrow and still have a job by evening. Are you now wondering, Am I Next?