“With the economy slowing down after unprecedented supply chain woes and inflation at its highest in decades—and a growing number of economists predicting a recession — the job market is taking a turn for the worse, with several marketers and agencies already announcing layoffs, ” reports Ad Age. If the tightening continues, states Ad Age, it will mark “a major shift in the agency, brand marketing and media industries, where the biggest problem employers had been facing was finding enough talent to fill open positions. Now, firms could soon have to decide which jobs to cut.”
Ad Age is tracking layoff announcements and other budget-cutting news from major marketers and agencies, plus economic headlines. You can view it here.