The World: New York - Grey Worldwide makes 50 staff redundant

Grey Worldwide has laid off almost 50 employees from its New York office.

The cuts, which include staff from all levels and departments within the agency, are the first moves in an ongoing strategy to dismantle the agency's "village system", which was set up by the former president, Steve Blamer.

A full agency meeting is planned for next week, at which the chairman and chief executive, Jim Heekin, will unveil further plans for how the agency will operate in the future.

The "village system" saw the departments run as separate entities, each led by a trio of account, creative and strategic executives.