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Wells cuts staff by 40

Published on .

Wells BDDP, New York, laid off 40 employees in fallout from its loss of $125 million in Procter & Gamble Co. business last month. The move was expected. The workers were given a 30-day paid grace period to seek positions elsewhere in Omnicom Group, which agreed Jan. 28 to acquire Wells and its parent, GGT Group, London. Separately, Tag Heuer USA, Springfield, N.J., pulled its $8 million U.S. account from Wells and moved to Saatchi & Saatchi, New York.

Copyright February 1998, Crain Communications Inc.

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