"Omnicom on Monday provided a deeper look at how its leadership and agency structure are changing following the close of its $13 billion-plus acquisition of rival Interpublic Group last week, according to a press release. The ad-holding group, now the world's largest, estimates it will eliminate another 4,000 jobs globally to realize its cost synergy targets, CEO John Wren told Adweek."
""I am proud to welcome the people, agencies and clients of Interpublic to Omnicom and create a global community of the best and brightest professionals in the industry, all of whom will have access to the most advanced AI tools and Omni, our advanced intelligence platform," Wren said in a press statement. "Together, we will be the go-to company that shapes how brands grow, people connect and culture evolves.""
Omnicom completed a $13 billion-plus acquisition of Interpublic and reorganized leadership and agency structure. The group plans to eliminate another 4,000 jobs globally to meet cost-synergy targets and aims for $750 million in annual cost savings. Combined revenue is expected to exceed $25 billion. The company will operate six capability-based divisions: media, public relations, production, advertising, diversified agency services, and a unit for the Omni operating platform and Flywheel Commerce Network. Diversified Agency Services covers healthcare, branding and precision marketing agencies. Omnicom Advertising, led by Troy Ruhanen, includes BBDO, McCann, TBWA and the U.S. Advertising Collective. Legacy shops MullenLowe, FCB and DDB are being sunset. Two enterprise-wide teams—Global Growth Team and Client Success Leaders—will coordinate client needs, innovation and connected capabilities.
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