Six directors out in CIA’s cutbacks

CIA Medianetwork has axed 20 members of staff in the latest phase of its restructuring, losing six directors in a bid to streamline the company in the wake of a number of account losses.

CIA Medianetwork has axed 20 members of staff in the latest phase

of its restructuring, losing six directors in a bid to streamline the

company in the wake of a number of account losses.



The cost-cutting exercise saw the departure of the Medianetwork board

directors, Richard Britton, Greg Grimmer and Jackie Almeida, as well as

Edward Lloyd-Barnes from the Negotiation Centre, which has merged into

the main CIA agency.



Four junior staff members and three secretaries have also left. Three

other employees from the Negotiation Centre were made redundant,

including Paul Sumner and Simon Poole. Other job cuts came from finance

and central services.



The departures sent shockwaves through the industry, with some observers

surprised at the names axed. ’Some of these people were very popular

with clients and staff. It seems strange that CIA is causing such unrest

at such a time in its fortunes,’ a media owner source said.



The job losses have sparked speculation that a number of existing

accounts will now come under the spotlight, but CIA has launched a drive

to reassure and batten down clients likely to be affected by the

departures.



Britton was close to IPC Magazines, which bills just over pounds 2

million, while Grimmer’s departure will cast a spotlight on the pounds

1.5 million Wrangler and, possibly, the pounds 14 million Daewoo

business - although both are international assignments.



The agency has already parted company with its Daily Mail Ideal Home

Exhibition client but the loss - part of a full-service review - is said

to be unconnected with the staff departures.



The restructuring will reduce the agency’s salary bill and clear the

ground for the building of a new team under the incoming UK chairman and

acting chief executive, Mainardo de Nardis (Campaign, 16 October).



Headliner, p19.



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