BBDO TO SLASH 50 JOBS IN N.Y. OFFICE

Cuts Follow Loss of Charles Schwab Account

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NEW YORK (AdAge.com) -- Omnicom Group's BBDO Worldwide is poised to lay off up to 50 employees.

The cuts are expected to affect several departments in its New York office, a BBDO executive said.

The reduction comes on the heels of BBDO's loss last month of the $80 million Charles Schwab Corp. account to sibling shop GSD&M, Austin.

BBDO employs about 750 in New York.

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