During a town hall, GroupM North America CEO Sharb Farjami announced that 40% to 45% of the workforce will be impacted by a major organizational restructure. A new department, Media Management and Delivery (MMD), will consolidate various functions, although it remains unclear how many roles will face layoffs or reassignments. Despite these changes, agency brands will still exist but will operate under a unified model. Follow-up communications are expected to provide further details to employees about the next steps.
This has been a pretty tough week for us... There have been colleagues that have left our business... It can feel very destabilizing.
The agency brands will continue to exist... They will cease to operate business P&Ls in the market, but they will continue to be homes for our clients.
This figure referenced represents the number of people who will move into the integrated media delivery organization.
The update follows ADWEEK's earlier report that layoffs had begun at the media network earlier this week.
#groupm #workforce-restructure #media-management-and-delivery #organizational-changes #agency-brands
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