WASHINGTON (dpa-AFX) - Omnicom Group, Inc. (OMC) is set to lay off more than 4,000 employees and shutter several well-known advertising agency brands as part of the integration and restructuring following its ongoing acquisition of US peer The Interpublic Group of Companies, Inc. (IPG), according to the Financial Times report on Monday.
The job cuts are mainly expected in administrative and some leadership positions. These job cuts follow last year's 3,000 job cuts at Omnicom. Interpublic has also cut 2,400 jobs in the first half of 2025, following the near 4,000 cut last year.
Though the combined company will together run dozens of advertising agencies, it will also shutter some of the well-known advertising agency brands.
The acquisition closed on November 26 following the receipt of its final approval from European regulators.
A year ago, Omnicom agreed to acquire Interpublic in a stock-for-stock transaction. Interpublic shareholders will receive 0.344 Omnicom shares for each share of Interpublic common stock they own.
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