VaynerMedia and Interpublic Group of Cos.' Weber Shandwick both recently cut staff, Ad Age has learned, as a rising number of layoffs continue to hit the industry.
A VaynerMedia spokesperson confirmed on Tuesday that the agency "went through some additional staff reductions" one week ago. The spokesperson said less than 2 percent of staff was cut in the latest round. VaynerMedia also laid off about 5 percent of staff in April; in total, the agency has eliminated about 7 percent of its staff due to the coronavirus pandemic.
“Our people are our greatest asset at VaynerMedia and we are making every effort to protect them," VaynerMedia Founder-CEO Gary Vaynerchuk said in a statement. "However, as this global pandemic continues to impact our industry, we are having to adjust our business accordingly. Unfortunately, this led to the difficult decision of making some additional staff reductions.”