Brooklyn, New York-based Huge, a full-service digital advertising, marketing, and design company, has announced the layoff of 3% of its workforce to meet market challenges.
'Huge is laying off about 3% of the agency which has about 1,200 employees. Layoffs were distributed equitably across the agency, with the exception being the Brooks Running team which was disproportionately impacted. We looked at representation across our diversity and inclusion targets. We looked at the blend of senior vs. junior roles to ensure that the actions were as equitable as they could possibly be.
Huge's Global CEO Mat Baxter, noted, "We’re seeing clients either cancel, move or pause activities. We’ve had a significant revenue drop over the second half with clients doing exactly that.
It’s a really simple equation, right? We have more people than we need for the revenue that we’ve currently got. I mean, it’s as simple as that. We have an oversupply of people relative to the work that’s coming into the business. So for us, this was a recalibration of people versus forward revenue.
Change is coming. There will always be a tomorrow, no matter how much you may try to ignore it. There are no guarantees in life or promises for a bright future. Just because something bad hasn't happened yet, doesn't mean it won't. It can happen to anyone, anytime, anywhere. No one is guaranteed to wake up tomorrow and still have a job by evening. Are you now wondering, Am I Next?