MediaLink, owned by Cannes Lions parent Ascential, is feeling the impact of the coronavirus pandemic like the rest of adland, causing the company to put several cost-cutting measures in place in the US.
"In reaction to the both the public health and economic factors resulting from the COVID-19 pandemic and in line with measures taken by our parent company Ascential pLc, MediaLink, like much of our industry, has made the incredibly hard decision to streamline certain areas of our business," according to a statement from MediaLink.
The statement adds: "This includes a combination of staffing reductions, furloughs in business functions that have been temporarily but directly impacted and voluntary pay cuts by executive leadership."
Campaign US understands that the furloughs are across areas of MediaLink that are not as active right now because of COVID-19, such as the event group and executive search and hiring. Additionally, people with knowledge of the matter expect Ascential to take similar action soon across its wider company portfolio.
MediaLink’s streamlining measures follow those of the major holding companies and a number of independent agencies in the advertising industry. Check here for a list of the ad agency job losses, pay cuts and furloughs in the last month caused by coronavirus.