The World: Miami - Crispin Porter to cut 60 staff as recession bites

Crispin Porter & Bogusky is set to cut 60 members of staff (6 per cent of its total workforce), as a response to the increasingly tough economy.

In a statement from the agency management team, the co-founder Alex Bogusky said: "On a comparative basis, CP&B's business is doing well, but we are not immune to the constriction of economy. These are extraordinary times and we hope that we will not have to do this again."

News of cutbacks at CP&B follows reports that the US advertising and media industries slashed 18,700 jobs in December, bringing industry job losses in this recession to 65,100.