Following the Omnicom–IPG merger which has created waves in the global advertising space, India’s agencies are having to deal with a lot of restlessness and anxiety amongst clients. Employees are already noticing slowness in decision-making, lack of clear communication and growing talk of job loss. The Group recently announced its intention to lay off at least 4,000 employees and close many ad agency brands following the $13 billion acquisition of Interpublic Group.
Media reports say that many client accounts are seeking a review fearing adverse impact on service.
The layoffs will reportedly affect administrative roles more than others. Post implementation of the job cuts, Reuters reports that the Group will be left with 85 per cent client-focused roles and 15 per cent administrative roles.
Following the merger of the two entities, which has given birth to what could be the biggest advertising firm in terms of revenue, Kartik Sharma has been picked for the role of chief executive officer for Omnicom Media India. He has been with Omnicom since 2020. Rishit Mehta has been appointed chief financial officer of Omnicom Media and will now head financial strategy, commercial governance, and operational excellence for the network
Prasoon Joshi has taken charge as chairman, Omnicom Advertising India, while Aditya Kanthy is now president and MD of Omnicom Advertising India. The sweeping changes will witness a redefinition and realignment of responsibilities. A more collaborative working model is expected to come into play doing away with rigid hierarchies. The merger and integration will also see more cross-functional ledership.
Roles are being redefined, responsibilities realigned, and leaders are transitioning into a more interconnected working model.
