Mergers are highly disruptive in the short term, and opportunistic rivals could pounce. Ad industry workers should expect concerned clients and bruised egos as the two companies combine.
As with many horizontal mergers, job cuts seem inevitable. Omnicom said Monday the transaction would "generate $750 million in annual cost synergies" as it consolidates its operations with IPG.
Steve Boehler, the founder of marketing and management consulting company Mercer Island Group, predicted in a LinkedIn post that "thousands" of people would lose their jobs.
AI could also negatively impact the advertising job market. The research firm Forrester said last year that the rise of automation could lead to the loss of 32,000 jobs within ad agencies by 2030.
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