Real Chemistry has eliminated 66 positions, representing 3% of its 2,000-person workforce. <\/p>\n
The impacted employees, spanning varying departments, were provided severance packages including healthcare benefits and career support to ease the transition, said Real Chemistry CEO Shankar Narayanan. <\/p>\n
These changes are both necessary and difficult, given the market headwinds faced by our clients and the impact to our business, Narayanan said in a statement to PRWeek. We approached making them in a thoughtful way and believe they help us be more agile in how we partner with our clients and continue to invest in innovation that exceeds their expectations. <\/p>\n
He added that Real Chemistry has always stayed fluid, and it made sense to do this now to support our continued growth in 2024. <\/p>\n
The reduction comes amid recent leadership additions. Rachi Govil joined Real Chemistry as chief client officer of integrated marketing communications in September; Steve Behm was added to lead the crisis and corporate reputation practice in August; and Brian Tjugum joined as global social impact practice leader the same month. <\/p>\n
Real Chemistry joins a series of firms cutting back on staffing this year. Ketchum let go of more than 20 employees this week; BCW laid off 21 North America employees earlier this month; Zeno Group eliminated 3% of its global workforce in June; Edelman laid off about 240 employees, or 4% of its workforce; and WE let go of less than 5% of its staff the same month. <\/p>\n
Additionally, Praytell laid off fewer than 10 employees due to a bogey in May and Weber Shandwick eliminated the roles of just under two dozen staff members in late February. <\/p>\n
Real Chemistry reported a revenue increase of 17% to $555 million globally and 18% to $513 million in the U.S. in 2022, according to PRWeeks 2023 Agency Business Report. <\/p>\n
This article originally appeared on PRWeek US. <\/p>\n
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