Update: Market Chatter: Omnicom Says Recent Interpublic Layoffs Already Completed

MT Newswires Live02-25

(Updates with details throughout following a correction issued by Adweek regarding the Omnicom layoffs.)

Omnicom (OMC) confirmed that a recently published New York WARN notice relates to layoffs that already occurred during its $13 billion November acquisition of Interpublic, Adweek said Tuesday, issuing a correction to a prior article.

The notice was filed in December but only made public on Monday, the report said, adding that an Omnicom spokesperson clarified that the filing was just a compliance requirement for layoffs that took place on Dec. 1.

According to the notice, 92 of 251 were laid off from Interpublic's New York offices as part of the restructuring, the report said.

Adweek's earlier report had said that Omnicom will cut an additional 94 jobs in the US starting March 1.

(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: 83.12, Change: +2.37, Percent Change: +2.94

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