The agency released a statement asserting its actions are a result of budget reduction and aren't expected to continue beyond this cut.
"In response to the current economic climate, advertising budgets are being reduced in virtually every industry. On a comparative basis, CP+B's business is doing well but we are not immune to the constriction of the economy. Our two main responsibilities are to our clients and to our employees. And in order to most prudently manage our business, we have taken the difficult step of reducing our staff by 60 of our 900+ employees. We do not anticipate any further staff reductions. These are extraordinary times and we hope that we will not have to do this again."