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
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).