BBDO Worldwide, an advertising agency under the Omnicom Group, is negotiating a strategic alliance with Organic, Inc. Organic offers Internet advertising services to its clients.
“We have known and worked with Organic for several years and share significant client relations,” said Allen Rosenshine, Chairman and Chief Executive Officer of BBDO Worldwide in a statement.
Rosenshine continued, “Digital media represents an important means for enriching customer relationships and delivering sophisticated marketing messages. We are hopeful that these discussions will lead to the development of even more effectively integrated marketing solutions for both existing and new clients.”
Earlier this week San Francisco-based Organic said it would eliminated 300 jobs, or 35% of its workforce.
The company’s stock price has fallen 97% in the past year. The company also said the Nasdaq stock market has begun a review of Organic’s listing eligibility.
Organic plans to take a $17 million to $20 million first-quarter charge related to the cuts, the company said in a statement. The reductions are expected to save the company $50 million a year.
Network
