Hasta La Creative!

CP&B today is laying off 10% of its staff, Ad Age has learned. CP&B has an estimated 650 employees in the U.S. and another 100 overseas in its London and Gothenburg, Sweden offices.

According to executives familiar with the matter, the layoffs span CP&B’s three U.S. offices — Los Angeles, Miami, and Boulder, Colo. — but the bulk of them will occur in the latter two cities. The layoffs are said to only affect the agency’s U.S. offices.

It’s believed that the layoffs are in anticipation of a reduction in the shop’s Microsoft business, which is prepping for a review, and in response to the loss of Arby’s, which decamped in the fall.

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