Within the final six months, the company has additionally misplaced world CFO Tania Secor; world CMO Ashish Prashar; svp and world head of media, connections and affect Ellie Bamford; and vp and managing director Margo Lowry.
In December 2022, the company received the multimillion-dollar Mattress Agency account, however only a week later the enterprise decreased the scope of its work with R/GA, switching to a project-based strategy. Since then, Mattress Agency reduce ties with the company. One supply informed Adweek this was a product of the company not shifting quick sufficient to employees the enterprise and construct a relationship with the shopper.
In November 2022, R/GA made a restructuring of its enterprise, closing its Hudson Yards workplace area in New York Metropolis in addition to its workplace area in downtown San Francisco. R/GA signed a short-term lease in New York at a fraction of the price of the Hudson Yards workplace, which one supply informed Adweek price R/GA greater than $10 million per 12 months.
With the restructuring within the U.S., the company stated it’s dedicated to the 5 practices it put in final 12 months. R/GA’s technique was based mostly on the time period “distributed creativity.” That restructuring was apparently deliberate earlier than R/GA reported losses of as much as $10 million in 2022 from crypto- and NFT-related work.
R/GA additionally reimagined its enterprise in 2020, claiming that “Each 9 years, R/GA adjustments the basics of its working mannequin to align with the way forward for expertise and the affect it is going to have on folks, tradition and purchasers.”
In keeping with a spokesperson, “We’re working to assist folks discover jobs—writing suggestions—many former R/GAers are providing work—the group and the alum community is robust as ever.”
