SAN FRANCISCO: Due to client cutbacks, OneMonday, the fledgling
British holding company for US tech PR brands Text 100, Bite
Communications and Joe Public Relations, is instituting worldwide
layoffs of 35 people, or 5% of its 700-person work force.
OneMonday, which trades on the London Stock Exchange, issued a profit
warning last week, saying it will fall significantly short of
expectations. It blamed a slowdown in US revenues.
The company's largest clients in North America include Xerox and
Excite@Home, both of which are rumored to have cut PR expenditures in
the last economic quarter.
Tim Dyson, worldwide group CEO for OneMonday, said company restructuring
is across all agencies. Staff cuts will be predominantly in the US and