In Spring 2008, when I referred to layoffs at marketing companies and ad agencies, some smart alecks scoffed at my words, merrily mocking me and my writing. Numerous people holding jobs then dropped pearls of wisdom… “Network, get yet another degree (since my MBA does not seem to cut it), or better still, change your profession“. Some even went as far as suggesting I change my personal [‘Look’ and ‘Feel’]… like I was some website that was long overdue for a total makeover!
Of course, last March, Bear Stearns, believed to have been firmly parked at 383 Mad Ave in NYC, was only just beginning to teeter… we all are now privy to its change of address… they’ve moved permanently to the annals of financial history. At the time of their big move, the formal announcement of a recession that had already been three months in the making since December 2007 was at least three seasons away! It is highly unlikely then that A&M agencies could have been insulated, impending announcements notwithstanding! However, only those who were laid off, and those who never got hired — despite job postings that continued to appear (to ostensibly lure fresh, “experienced” talent) — would have gotten a whiff of the hard times to follow; obviously, the rest of the world was happily oblivious to the latent harsh effects it was already beginning to experience!
Long before birds herald the onset of spring, you may have heard (and read) twitters about ad agency layoffs. Think back, the frequency may have been rising since mid-December 2008. Now why is that? It’s because that’s when the US government formally announced that the recession had already set in since December 2007! Looking back now, for 12 months this recession had stealthily taken its toll on jobs, home sales, the fate of companies and on families that depended on these organizations – directly, or indirectly; or even on retirees who lived off their fixed incomes! Wow, so now that it was official, it was okay to openly talk or twitter about how much even the ad agencies were hurting.
You just have to read the compilation of all the twitters (14 pages as I blog just now) to truly gauge the severity of this situation. If that’s too much work, especially considering you may be looking for work, take a look at BNET’s mind-boggling layoff numbers… including ad agency, media and marketing layoffs, ever since the recession started. These will show you why you’re meeting with little success in finding a new job. Or that if you do still have your job while your colleagues have been shown the door, why it’s no time to be smug… the pink slip may likely be well on it’s way to you! Perhaps it’s time to consider another field, go to school and acquire a new skill… and while you’re working on that resume, remember also to go for a makeover on yourself… I’m just sharing those pearls of wisdom I’d received from the mavens on Mad Ave!