Monday, July 29, 2013

Omnicom and Publicis - Bigger, stronger, madder?

http://www.economist.com/blogs/schumpeter/2013/07/omnicom-and-publicis

“I’m not sure this is in the best interests of their clients or their talent,” says David Jones, the boss of Havas, a rival agency. “My whole focus at Havas is to get us to behave like a smaller company not a bigger one. I doubt you'll find a single client who says, ‘we wish you were bigger and we were less important to you’.” Quite so. Plenty of top talent has defected over the years from holding companies such as WPP and Publicis to strike out on their own, not least because they disliked working for an impersonal behemoth. Such distaste will probably be widespread at Omnicom, whose constituent agencies pride themselves on their independence. Nor will realising synergies from the merger, which are estimated at $500m and mainly come down to job cuts, improve the mood.