“We are deeply saddened to have made the decision to reduce our full-time headcount," an agency spokesperson said in a statement. Braeburn Pharmaceuticals. - 1 day 21 hours ago, By Some raised their hands to leave, helping to save the jobs of others. The spokesperson said less than 2 percent of staff was cut in the latest round. In order to translate a document or PDF and keep *most* of the formatting, layout, images (and more) in place, the language translation software you are using must encode the file. Giant Spoon said that it has been "forced to halt production on several 2020 experiential projects." We are actively looking at reducing all costs within every area of the organization in an effort to minimize impact and VaynerMedia remains committed to taking care of both our people and our clients.”, MDC's CPB confirmed that it has furloughed and laid off some staff. Accenture Interactive-owned Droga5 has confirmed it cut 7 percent of its U.S. staff. Braeburn strives to foster high performing teams that are passionate about being on the front lines of addressing the opioid crisis. These are painful decisions for any business. Opioid addiction, also known as opioid use disorder (OUD), is a medical condition requiring medical treatment. - Drug Deaths in America Are Rising Faster Than Ever. "We negotiated this as long as we could, but W+K and COVID-19 have reached an impasse," the agency said in a statement. Dentsu Aegis Network confirmed that it has initiated salary reductions and furloughs across the holding company and its individual agencies, which include 360i, mcgarrybowen, Carat, Isobar and iProspect. "We have made the difficult yet unavoidable decision to furlough a portion of our staff, and lay off a small group. Braeburn is reinventing how a pharma company operates. It was important to us to provide all the support we could to those leaving, and are offering everyone at least four weeks of severance, healthcare coverage until the end of the year, and resume writing, interviewing, and networking services," Global CEO Sean Lyons said in a statement. One person familiar with the situation told Ad Age that, at TBWA, the staff reductions are a mix of layoffs and furloughs and will be conducted over the course of two days. In my pharma career I've never felt more valued and included in … The work we are doing can make a difference in the lives of patients who often shoulder the burden of treatment themselves. - 1 day 4 hours ago, By We all hoped they would never have to be made, as they come through no fault of any one of our valued employees. He serves as Chairman of the Board of Lantheus Holdings, Inc. and is on the board of directors of Avista Healthcare Public Acquisition Corp., National Spine and Pain Centers, LLC and Braeburn Pharmaceuticals, Inc. I love you. VaynerMedia laid off about 5 percent of staff on Friday, due to pressures on the business from the coronavirus pandemic. He added that "senior executives including myself will take some significant [salary] reductions in order to maintain responsible [staff] reductions.". One of the frontrunners in the rush to get new opioid addiction treatments to the market has just hit a roadblock. He continued, "Unfortunately, reductions in staffing levels are also taking place in certain areas of the business. Braeburn Pharmaceuticals, Inc. (BBRX) Stock Quotes - Nasdaq offers stock quotes & market activity data for US and global markets. The person also said the layoffs were "isolated agency measures" versus holding company-wide and that many agencies did not undergo any layoffs. Sign Up. Share a Photo. Braeburn is reinventing how a pharma company operates. It's simple to set up. Braeburn Photos + Add Photo. | COM-1002 January 2019. “Businesses like ours, which are in part events companies, have been badly hit. All of them are a loss to us. The agency behind some of the biggest SXSW activations in recent years, including "Bleed For the Throne" in 2019 and "SXSWestworld" in 2018, said in a statement that "the COVID-19 pandemic has done serious damage to our experiential business," forcing the layoffs. S&P 500 0.00%. The cuts were initiated today. Rooms Rankings Earnings Calendar Shop. According to the memo, the business was operating at an 11 percent margin in March as the pandemic spread throughout the U.S., writes Barker. Are you a print subscriber? A key part of that plan includes a significant reduction in our staff numbers; and this also means we have had to reconfigure our senior management team.”. Publicis Groupe implemented staff cuts, furloughs and salary reductions last week across various of its U.S. agencies and several people close to the business tell Ad Age that employees are bracing for more layoffs this week. "We’re grateful for the work of each of the very talented people leaving us and their contributions to shaping this iteration of R/GA. A spokesperson did not say how many employees were furloughed. "As such, we have had to make adjustments in order to react to the changing needs of our business. “Our people are our greatest asset at VaynerMedia and we are making every effort to protect them,” Founder-CEO Gary Vaynerchuk said in a statement. Throughout the office the patient is front and center and keeps everyone focused on the goal. DOW 0.00%. Braeburn Pharmaceuticals. Adrianne Pasquarelli You may unsubscribe at any time. “Anyone who can read, listen or watch the news knows that we are in extraordinary times—as are our clients and the economy,” Johnson said. Have you worked here? This is a continually updated blog dedicated to tracking the agencies that have undergone furloughs and staff cuts. We are grateful for all of their contributions to the agency.". In my pharma career I've never felt more valued and included in … The actions we have taken include cutting discretionary costs, salary reductions, shortened workweeks and, as of today, furloughs and staff reductions. It will be updated as the situation develops, with the latest news on top. Adrianne Pasquarelli Edelman laid off around 390 people, representing about 7 percent of its staff, as the COVID-19 pandemic has led to a widespread revenue downturn, according to an internal email obtained by Crain’s Chicago Business reporter Dalton Barker. “Like everyone across the industry, we’ve been affected by the global pandemic," CPB Global CEO Erik Sollenberg said. Chris Beresford-Hill Braeburn Pharmaceuticals, Inc. provides health care services. "All of those affected will be provided severance benefits. BBH employs 112 full-time employees in the U.S. BBH is the first Publicis Groupe agency to confirm layoffs related to the pandemic. Ann-Christine Diaz A VaynerMedia spokesperson confirmed that the agency “went through some additional staff reductions” on May 5. Retrieved December 17, 2018, from https://www.nytimes.com/interactive/2017/06/05/upshot/opioid-epidemic-drug-overdose-deaths-are-rising-faster-than-ever.html?module=inline. Business Insider, which first reported the layoffs, said the cuts were concentrated in the agency's New York headquarters and affected about 40 people across all levels and departments. 4 hours 33 min ago, By Throughout the office the patient is front and center and keeps everyone focused on the goal. Ron Magliocco, a senior VP with Epsilon who was part of Arc Worldwide—which focuses on retail and has clients such as CVS Pharmacy, Coca-Cola, Intel and MillerCoors—was perhaps the most senior-level person let go, Ad Age learned. - A top down, bottom up culture isn't just preached, it's lived. By registering you agree to our privacy policy, terms & conditions and to receive occasional emails from Ad Age. "Grey has had a strong start to 2020 with the Discover win, among others," a Grey spokesperson said. Ann-Christine Diaz “The total number of job losses at Golin is under 5 percent of our staff. Dec 24, 2020, 07:59 ETAurobindo Pharma and COVAXX Sign an Exclusive Agreement to Develop and Commercialize COVID-19. - 2 days 4 hours ago. Our people are our most valuable asset and we feel for them as well as everyone affected by this situation around the world.”. Havas said there were also staff cuts across three of its agencies in the U.K. “COVID-19 has had a significant impact on several of our clients, varying greatly depending on business sector and geography,” a Havas spokesperson said in a statement. “However, as this global pandemic continues to impact our industry, we are having to adjust our business accordingly. “As an industry, we are navigating through an unprecedented time as this global pandemic continues to impact our clients’ businesses,” VaynerMedia Founder-CEO Gary Vaynerchuk said. A regularly updated blog documenting agencies' cost-cutting efforts amid the global crisis, The top 5 most creative brand ideas you need to know about right now, Ad Age's 10 favorite binge-watches of 2020, Peloton is shopping for an agency to handle Olympics marketing, 3 logo redesigns in 2020 that provoked the most snark, What Facebook needs in its next CMO—and it's not a savior who will change everything, How to plan ads for an uncertain Super Bowl: just assume it’s happening, Influencer marketing bounces back strong as pandemic lingers, Dear Ryan Reynolds: I hate you. "Our priority is on those we're parting with as we adjust our business in real time, our existing clients and teams. As a consequence we have had to develop a survival plan. It is very collaborative, and everyone is extremely welcoming and helpful. - Independent agency Giant Spoon has laid off 20 percent of its staff due to the coronavirus pandemic's negative impact on its experiential business. 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