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Edelman is cutting 330 people (5.3 percent of its workforce) to cope with an anticipated eight percent shortfall in 2024 US revenues, and client demand for one-stop shopping for speciality services.
The No. 1 PR firm is winding down its Edible (food), Revere (digital experiences) Salutem (health & wellness), Mustache (creative), EGA (public/government affairs) and Delta (brand strategy) units and consolidating those offerings at home base. It will retain client-specific brands Assembly for Microsoft, and Kinisi for Johnson & Johnson.
Richard Edelman said clients want the integration of specialist services into the larger firm for "speedy access to our geographic reach, deep industry knowledge and creative ability."
The firm will focus on healthcare, technology, food & beverage, financial services and energy transition for growth.
Edelman said the restructuring will help the firm remain nimble and agile in delivering on clients’ needs with senior people leading every engagement.
He is deeply optimistic about the future, believing the shop is well positioned to deal with geopolitical uncertainty and challenging societal issues.
There are 5,870 staffers in Edelman’s 60-office network.
ICR has unveiled comprehensive brand update intended to provide a single, unified global identity across the firm’s core offering.
An annual industry survey suggests that PR firms are doing more with less, and that agencies’ largest clients are now accounting for an increased percentage of their total business.
Burson today officially launched its new brand and client offerings to complete the merger of BCW and Hill & Knowlton.
DJE Holdings, parent of Edelman and Zeno, launches RUTH as an independent shop named after Ruth Edelman, mental health advocate, wife and longtime business partner of Dan Edelman.
New York City PR firms make up the largest slice of O'Dwyer's 147 firm overall ranking with 33 of 40 in the New York/New Jersey area either calling Manhattan their home or having a presence there.
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