Global holding group Omnicom cut an estimated 3,000 roles throughout 2024 in the run-up to its much-publicised merger with IPG, which many expect will lead to further cuts.

The figures, calculated by Campaign, suggest that Omnicom’s global headcount fell from around 77,900 in January 2024, down to 74,900 by 31 December 2024.

Made available in the firm’s latest annual report, these figures would mean that the New York-based outfit reduced its overall headcount for the first time since the peak of the Covid-19 pandemic in 2020.

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In a Q4 earnings call earlier this month, Omnicom said that it planned to generate around £600 million in ‘annual synergies’ following its acquisition of IPG, with as much as £266 million to come from staff cuts.

The Omnicom job cuts are broadly in keeping with the industry as a whole, with the global cost-of-living crisis and stubborn inflation leading to significant cuts at both WPP (3,000 losses in H1 of 2024) and IPG (2,300 in 2024 up to Q3).

This is in stark contrast to Publicis Groupe however, which has managed to buck the downward trend as the sector’s top performer, adding close to 5,000 roles in 2024, partly through acquisitions.

Omnicom has been approached for comment.