Market Chatter: Omnicom Plans to Cut Nearly 100 Additional US Jobs in March

MT Newswires Live02-24

Omnicom (OMC) will cut an additional 94 jobs in the US starting March 1 following its $13 billion acquisition in November of Interpublic and the 4,000 linked redundancies, Adweek reported Tuesday.

The report said a WARN notice filed with New York State showed that 92 of 251 employees at IPG's former New York headquarters will be laid off, along with two of 84 employees at the former holdco's office.

Omnicom didn't immediately respond to a request for comment by MT Newswires.

Omnicom shares were up 3.1% in recent trading.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Price: 82.95, Change: +2.20, Percent Change: +2.72

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