M&C Saatchi has retrenched 16 staff, M&C worldwide chairman Tom Dery has confirmed.
B&T understands the redundancies are from within the M&C Saatchi and Make groups within the company and do not relate to changes on M&C’s large accounts.
Dery released a statement yesterday saying: "We confirm 16 retrenchments across two businesses out of a total Sydney staff of 340. Some of that number took voluntary packages. It's never nice to see people go but given the enormous pressure on margins that exist this is in line with sensible business practice."
M&C Saatchi lost the Eftpos business in February after two years on the account, although it is not believed the number of full-time workers dedicated to that account would make up a large proportion of the redundancies.