Saatchi & Saatchi is the latest agency to shrink its operations in the light of the US economic slump, announcing the closure of its San Francisco office on August 1.
The unit, which employs 60 staffers, claimed billings of $180 million at its height in 1998. Its biggest remaining client, Procter & Gamble, will henceforth be handled by the New York office.
Commented Julie Bauer, managing partner in New York: “We made every effort to keep the office viable, but there just wasn’t the business to support it.”
San Francisco is fast becoming an unhealthy location for agency staff – more than one hundred jobs have been lost in the Bay Area’s ad industry in the last fortnight alone.
News source: Advertising Age - Daily Deadline