The word on the street is that Fleishman-Hillard just cut 20 positions in Canada - proof that the financial slowdown is hitting the big PR shops north of the border. My contact tells me the positions pinkslipped were mainly high-earning consultants, several of whom brought their own clients to the agency's book of business.
This might be a way to save some short term cash for the agency, but it's bad news for everyone involved -- the PR folks who lost their jobs, the junior survivors who are going to have increased workloads, and the clients, who are going to be paying top-tier rates for those same junior practitioners.
Will the other big PR shops follow suit? Only time will tell.
This might be a way to save some short term cash for the agency, but it's bad news for everyone involved -- the PR folks who lost their jobs, the junior survivors who are going to have increased workloads, and the clients, who are going to be paying top-tier rates for those same junior practitioners.
Will the other big PR shops follow suit? Only time will tell.
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