May 2, 2001
SAN FRANCISCO (AdAge.com) -- In the latest wave of cutbacks to hit San Francisco advertising agencies, True North Communications' FCB Worldwide, San Francisco, today cut 12% of its workforce, the company said in a statement.
FCB, with about 390 employees, called the layoffs a "reorganization" and said it reflected a softness in the local market as well as the loss of two key pieces of business -- the Compaq account, which was moved to FCB's New York office, and AT&T Wireless, which went into review and is now being defended by FCB New York.
"This was an extremely difficult but necessary decision for this agency to make in response to the reduction in revenue for the San Francisco office," the company said.
Copyright May 2001, Crain Communications Inc.