RALEIGH, NC: The Catevo Group, a PR, marketing, and interactive services firm, is closing as of November 13, laying off 25 full-time employees. Laudes Corporation, which owns Catevo, is consolidating and restructuring its business in the US and abroad and decided to close Catevo.
Roger Friedensen, SVP at The Catevo Group, explained that this situation is a closing and not bankruptcy, adding that some employees are looking at consultancy positions with former clients from a range of industries, including healthcare, biotechnology, finance, transportation, automotive, and tech.
"We've informed [the clients] and we're trying to make the transition from the closure of Catevo as smooth and efficient as possible for them," Friedensen told PRWeek. "As far as next steps, it's up to each client, obviously. Our focus right now is on The Catevo Group and on the clients and employees."
He said that Laudes has interests in both the communications and entertainment sectors as well as finance and commercial real estate, but it does not own any other PR firms.