Paul Holmes 01 Apr 2001 // 11:00PM GMT
NEW YORK, April 2—GCI Group became the latest top-tier agency to announce layoffs last week, reducing its staff size by 38, or about eight percent of its North American employees. The layoffs included two executive vice presidents—Brian Glazer in Chicago and Jay Silverberg in San Francisco—and affected every office except the recently acquired Minneapolis operation, Tunheim Group.
According to agency president and chief executive Bob Feldman, the cuts come despite the fact the agency is anticipating healthy growth in 2001. Feldman said GCI was on track for 15 percent organic growth, about half the rate the agency has enjoyed in recent years.
“It is important for us to realign our North American business to match up against the current rate of growth,” says Feldman. “Our goal is simple. If we are committed to building a great firm, we must ensure that our organization is well run, all of the time, including during economic downturns.”
Silverberg, who joined GCI as part of the acquisition of Kamer Singer & Associates, and Glazer, part of the former Dragonette operation in Chicago, could not be reached for comment.
Also announcing layoffs are Los Angeles-based technology specialist The Bohle Company, which let eight people go earlier this year and last week reduced its headcount by another 10, and Makovsky & Company, which laid off eight people as a result of softness in the technology and investor relations practices.