Omnicom to cut 4,000 jobs, fold legacy ad brands after IPG takeover, FT reports

Omnicom (OMC.N) will lay off more than 4,000 employees and fold several well-known advertising agency brands after its $13 billion acquisition of rival Interpublic Group, the Financial Times reported on Monday, citing an interview with company executives.

The advertising industry faces an existential reckoning as artificial intelligence reshapes creative production and tech giants like Meta (META.O) make it easier for businesses to churn out ads at scale and speed.

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