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Chrysler’s Media Agency Cuts 30 Jobs
Omnicom’s PHD, the media planning agency for Chrysler, is cutting 30 jobs, or about 2.5% of PHD Worldwide’s workforce, AdAge reports.
The Atlanta office will be closed, and the Detroit office has experienced seven layoffs. BBDO, PHD’s sister agency which handles creative for Chrysler, slashed 145 positions last month.
Chrysler is pulling back on advertising as a result of the drastic drop in auto sales. Auto advertising overall slipped 10% in the first half of 2008.
The automaker, rapidly running out of operating funds, is seeking a bailout from the government; failing that, Omnicom could be out $80 million, according to Automotive News.