Publicis declined to comment but one person close to the business claimed only about 1 percent of U.S. staff was cut last week. It is unclear exactly when the layoffs occurred but the news comes after Ad Age learned Publicis Groupe implemented staff cuts, furloughs and salary reductions last week across several of its agencies, including Epsilon, Spark Foundry, Hawkeye and Arc Worldwide. Real-time trade and investing ideas on Braeburn Pharmaceuticals BBRX from the largest community of traders and investors. The bottom line is the direct and widespread impact caused by the COVID-19 pandemic has done serious damage to our experiential business, which now consists of a core team including leadership, who are working to help clients find digital paths forward. "The company has taken steps to protect its business and global workforce amidst the global pandemic," a statement from Wasserman read. Probuphine, developed by venture-backed Braeburn Pharmaceuticals, is an implantable version of buprenorphine, the opioid addiction treatment … A spokesperson did not say how many employees were furloughed. I love you. About Braeburn Pharmaceuticals Braeburn is a pharmaceutical company dedicated to delivering solutions for people living with the serious, often fatal consequences of opioid addiction. It's simple to set up. By Opioid addiction, also known as opioid use disorder (OUD), is a medical condition requiring medical treatment. It will be updated as the situation develops, with the latest news on top. Business Insider, which first reported the layoffs, said the cuts were concentrated in the agency's New York headquarters and affected about 40 people across all levels and departments. Trending now. The agency did not say how many employees were affected. The Company's mission is to advance a portfolio of next-generation therapies, with individualized dosing regimens and delivery options, to address the escalating disease burden of addiction faced by patients and healthcare professionals. Dec 24, 2020, 07:59 ETAurobindo Pharma and COVAXX Sign an Exclusive Agreement to Develop and Commercialize COVID-19. A top down, bottom up culture isn't just preached, it's lived. Activate your account. Braeburn Pharmaceuticals, a 4-year-old Princeton, N.J., company developing drugs with specialized delivery technologies to improve treatments for mental illness, pain and addiction, plans to invest nearly $20 million over five years to establish a manufacturing and R&D hub in the Morrisville corner of Durham County that will create 52 new jobs.. WPP's Grey will be furloughing about 3.5 percent of its staff in New York, Ad Age has learned. We develop next generation therapies for opioid use disorder treatment. We are actively looking at reducing all costs within every area of the organization in an effort to minimize impact and VaynerMedia remains committed to taking care of both our people and our clients.”, MDC's CPB confirmed that it has furloughed and laid off some staff. Alexandra Jardine These are difficult decisions made in difficult times. Dentsu Aegis Network confirmed that it has initiated salary reductions and furloughs across the holding company and its individual agencies, which include 360i, mcgarrybowen, Carat, Isobar and iProspect. Are you a print subscriber? “Our people are our greatest asset at VaynerMedia and we are making every effort to protect them,” Founder-CEO Gary Vaynerchuk said in a statement. Last week, Ad Age also learned that BBH cut 20 percent of its U.S. staff. VaynerMedia and Interpublic Group of Cos.' Weber Shandwick are the latest agencies to conduct staff cuts. BBDO Worldwide laid off two of its top execs—New York Chief Creative Officer Greg Hahn and Exec VP-Director of Integrated Production Dave Rolfe—and Ad Age has learned other Omnicom agencies including TBWA, Zimmerman and DDB were impacted as well. He continued, "Unfortunately, reductions in staffing levels are also taking place in certain areas of the business. Weber Shandwick confirmed that it recently carried out layoffs, as well as furloughs and salary reductions, but declined to say how many employees were affected. The actions we have taken include cutting discretionary costs, salary reductions, shortened workweeks and, as of today, furloughs and staff reductions. Those people said Epsilon, Spark Foundry, Hawkeye and Arc Worldwide were amongst the agencies affected by these measures. We aim to reduce stigma by raising awareness that opioid use disorder (OUD) is a chronic brain disease best treated by evidence-based medication. "COVID-19 continues to impact all of us," a TBWA spokesperson said. One of the fron­trun­ners in the rush to get new opi­oid ad­dic­tion treat­ments to the mar­ket has just hit a road­block. Adrianne Pasquarelli A spokesperson for Edelman, co-headquartered in Chicago and New York, declined to detail the layoffs by office location. The person also said the layoffs were "isolated agency measures" versus holding company-wide and that many agencies did not undergo any layoffs. BBH also recently cut 20 percent of U.S. staff. “Like many thousands of other businesses around the world we have seen our revenues dramatically reduce during the pandemic,” D&AD said. Braeburn Pharmaceuticals, Inc. provides health care services. It's complicated, Best of 2020 No. "Grey has had a strong start to 2020 with the Discover win, among others," a Grey spokesperson said. A key part of that plan includes a significant reduction in our staff numbers; and this also means we have had to reconfigure our senior management team.”. We consider our people to be our greatest strength and are doing everything we can to ensure we have a healthy and sustainable business for them and our clients after this crisis passes.”. We work smarter by leveraging technology and fostering a collaborative environment that encourages individuals to share their talents and voices to bring ideas to life. These are painful decisions for any business. A high-level overview of Braeburn Pharmaceuticals (BBRX) stock. Laid off employees will receive three months' extended healthcare, according to people familiar with the matter. The next generation proprietary FluidCrystal® Injection Depot Technology used in the subcutaneous injection of CAM2038 includes a lipid-based liquid with a dissolved active ingredient. MullenLowe declined to comment. Still, people close to the matter said cost-cutting measures including furloughs and salary cuts were carried out across the holding company. "Regrettably, we will be restructuring our business in line with the new realities, to ensure we have the right set-up to meet future challenges and opportunities.”, MediaLink Founder-CEO Michael Kassan confirmed to Ad Age that the strategic advisory firm furloughed some staff in its events and executive search groups as well as laid off a "small number" of employees. The company has also furloughed 5 percent of its global workforce and terminated an additional 3 percent.". Omnicom underwent rounds of layoffs across its agencies just days after Chairman-CEO John Wren warned that furloughs and layoffs were imminent across the group. One person close to the business estimates that 50 to 75 people were cut. A spokesperson for the company declined to go into detail so it is unclear how many people were affected. Together with counseling and support, Braeburn’s next generation medicines are developed with an aim to support patients with OUD as they focus on the reintegration of their lives and communities. Salaries posted anonymously by Braeburn employees. “However, as this global pandemic continues to impact our industry, we are having to adjust our business accordingly. Havas said there were also staff cuts across three of its agencies in the U.K. “COVID-19 has had a significant impact on several of our clients, varying greatly depending on business sector and geography,” a Havas spokesperson said in a statement. Some received bad news graciously. Unfortunately there was no scenario forward without making the impossible decision to say goodbye to some of our valued employees. While we expect recovery for both our clients and therefore our industry, it appears it will not be a ‘V’ shaped curve and will undoubtedly take more time than hoped.”, The spokesperson continued, “Unfortunately, the result of this is job reductions in agencies whose clients were the hardest hit. "We’re grateful for the work of each of the very talented people leaving us and their contributions to shaping this iteration of R/GA. Spokespeople for DDB and Zimmerman declined to comment. Throughout the office the patient is front and center and keeps everyone focused on the goal. Braeburn Pharmaceuticals: Remote: Updated Oct 1, 2020. - In the same week as the layoffs, Anomaly lost its Panera Bread account, which it won in 2014. Braeburn Biotechnology Plymouth Meeting, Pennsylvania 4,682 followers Braeburn is dedicated to delivering solutions for people living with the serious, often fatal consequences of OUD. Those people say senior executives have also taken a pay cut and the agency has frozen new hires and raises. Adrianne Pasquarelli Dec 23, 2020, 17:56 ETMeat Institute Remains Focused On … BBDO North America Chairman David Lubars said, "I'm too heartbroken to comment.". Upload a resume to easily apply to jobs from anywhere. Golin, a public relations firm within Interpublic Group of Cos., carried out layoffs across its U.S. offices on Monday, Ad Age learned. Share a Photo. "As we navigate through this, we are taking a series of steps to ensure we can appropriately support our clients as well as the long-term vitality of the agency. Braeburn strives to foster high performing teams that are passionate about being on the front lines of addressing the opioid crisis. Business Insider, which first reported the layoffs, said the cuts were concentrated in the agency's New York headquarters and affected about 40 people across all levels and departments. 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