Vince Viola, managing director of the Cathay division at McCann, confirmed there had been a “limited number” of layoffs, though he declined to say how many or at what level. He added that “none of the redundancies was performance-based”.
However, Viola insisted the central Cathay team would continue to function and that the relationship with the client was “as strong as ever”.
Cathay has been making a series of cutbacks after reporting a 22 per cent decline in first-quarter turnover. Measures include asking staff to take unpaid leave.
See Opinion
