Omnicom Group up as co lays off more than 4,000 employees

Omnicom

01/12/2025 16:49

Updates

** Shares of ad and marketing firm Omnicom Group OMC.N up 1.6% to $72.76

** OMC says will lay off more than 4,000 employees and fold several well-known advertising agency brands, after acquisition of rival Interpublic Group

** OMC says job cuts are part of IPG integration, and are mainly in administrative roles, including some leadership positions as well

** Financial benefits would surpass the $750 mln in annual cost savings initially projected to investors - Omnicom

** Up to last close, OMC had fallen ~17% YTD

 (Reporting by Arnav Mishra in Bengaluru)

 ((Arnav.Mishra@thomsonreuters.com;))