M&C Saatchi lays off ten

CEO of M&C Saatchi Asia Chris Jaques (pictured) said the cuts are part of the agency’s ongoing restructure plan rather than a consequence of the downturned economy.

However, there are six separate hirings at M&C’s innovation division, Clear, and four at its brand-consultancy arm, Sunshine Brand Consulting, as the agency is planning to invest more in branding services.

“This has been a difficult year and we need to now look into a ‘high-growth, high-margin’ strategy,” Jaques said. “In reality, traditional advertising and digital as alternatives are not too profitable in this market, and we will need to streamline the agency to offer a higher margin-services to our clients.”