FRANKEL CUTS 64 JOBS

Agency Cites Soft Economy, Loss of Postal Service Account

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CHICAGO (AdAge.com) -- Publicis Groupe's Frankel & Co. cut roughly 10% to 12% of its staff earlier this month in response to its loss of the U.S. Postal Service account and the softening economy.

Of the 64 employees who left the agency, 56 staffers volunteered to accept enhanced severance packages offered by the company. The eight other employees were laid off, a Frankel spokeswoman said.

Three offices affected
The job cuts affected Frankel's three offices in Chicago, San Francisco and Irvine, Calif.

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Frankel, which handled point-of-purchase advertising for the Postal Service, lost the business in July when the entire account was awarded to Interpublic Group of Cos.' siblings Campbell-Ewald and DraftWorldwide.

Previous layoff of 100
In January, Frankel cut 100 employees, or about 18% to 20% of its workforce, as part of a restructuring plan designed to have fewer management layers and organize client teams into groups.

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