AT&T loss prompts job cuts at GSD&M Idea City
GSD&M Idea City could lay off between 100 and 200 workers in the wake of the loss of AT&T Inc.'s media account, according to a published report this week.
In an interview in Advertising Age, Roy Spence, chairman and CEO of Idea City, would not confirm the number of employees that will be cut. However, he told the magazine that the layoffs largely stem from the advertising agency's loss of AT&T's media business. The communications company consolidated its $3.4 billion media account with advertising firm Mediaedge:cia last month.
An Idea City spokesperson said that employees were notified today. The cuts will largely affect those employees who worked on the AT&T account. The published report said the layoffs could affect between 100 to 200 employees companywide.
At one point, the AT&T account represented about 40 percent of the advertising firm's business, insiders say. It is not known how significant those billings are presently.
Idea City employs about 700 people. The advertising agency has lost more than 100 employees in the past few months.
In the past year, Idea City has parted with longtime clients Chili's Grill & Bar and Wal-Mart Stores Inc.
This story originally appeared in the Austin Business Journal, an affiliated publication.
Visit DiversityJobs.com for information on Diversity in the workplace
In an interview in Advertising Age, Roy Spence, chairman and CEO of Idea City, would not confirm the number of employees that will be cut. However, he told the magazine that the layoffs largely stem from the advertising agency's loss of AT&T's media business. The communications company consolidated its $3.4 billion media account with advertising firm Mediaedge:cia last month.
An Idea City spokesperson said that employees were notified today. The cuts will largely affect those employees who worked on the AT&T account. The published report said the layoffs could affect between 100 to 200 employees companywide.
At one point, the AT&T account represented about 40 percent of the advertising firm's business, insiders say. It is not known how significant those billings are presently.
Idea City employs about 700 people. The advertising agency has lost more than 100 employees in the past few months.
In the past year, Idea City has parted with longtime clients Chili's Grill & Bar and Wal-Mart Stores Inc.
This story originally appeared in the Austin Business Journal, an affiliated publication.
Visit DiversityJobs.com for information on Diversity in the workplace
Labels: Idea City, layoffs, San Antonio, Texas
<< Home