AD Agencies
Global rebranding: Draftfcb is now FCB
MUMBAI: Six months after becoming Global CEO of Draftfcb, Carter Murray is changing the agency’s name to FCB (Foote, Cone & Belding). In keeping with the global rebranding, effective 4.30 PM IST, March 10, 2014, the India operation will be called FCBUlka Advertising and it will have a new logo.
The colours in the logo have been drawn from the colours of the flags of the world, symbolising the heritage, equity and flavour of the local advertising company and the wide network reach. The diagonal line through the letter B and the letter U of Ulka signifies the importance of the local brand name alongside the global name.
Commenting on the new brand name and identity, Nagesh Alai, Group Chairman, FCBUlka, said, “FCB has a tremendous 140 years’ equity globally and in India Ulka has a 50 years plus great heritage. FCBUlka will continue to deliver on the integrated offering to its clients and stay focused on what it has been doing over the years – Making Brands Famous and Making Clients Rich.”
“Two distinct brands, Draft and FCB, were merged together seven years ago,” said Murray in a global statement. “The entities have united and now have one seamless offering. It’s time to simplify our brand name as well to reflect our focused identity and direction.”
Specifically, the global network will be called FCB (Foote, Cone & Belding), with an important local element celebrated market-by-market. Typically, each office will add the city in which they operate, for instance, FCB Shanghai, FCB Paris or FCB Chicago, using a diagonal line through the B and the first letter of the local moniker. In some markets we will add the name of an acquired company such as in London, where the office will be FCB Inferno, due to the local equity and relevance of the acquired company. In instances where there is an agency with specific expertise, it will take on that name, as with FCB Health. And, in rare cases, the name of a highly respected creative leader will be used to further enhance the office’s delivery and reputation. That is the situation in New York, where the agency is being renamed FCB Garfinkel.
Starting today, offices will introduce the new brand name with a colourful logo design. It loosely depicts the colours of country flags from around the world, incorporating their local attributes while embodying the strength of our global network.
Importantly, Howard Draft remains executive chairman and key advisor to Murray. “Howard has been incredibly supportive of me and the direction we are taking the company,” said Murray. “All of the capabilities that made Draft such an industry leader remain essential to the future of FCB, including CRM, analytics, retail and activation. We will continue to invest in and deliver on all of these while ensuring a strong overall creative product.”
“I believe it’s a really great time for FCB. We have terrific talent and some early momentum. There’s a lot of potential here and I’m excited for our future,” added Murray.
With nearly 140 years of communications expertise, FCB’s worldwide network spans 150 offices in 90 countries, with over 8,000 people, and is part of the Interpublic Group of Companies.
AD Agencies
Omnicom doubles synergy target to $1.5 billion, flags more job cuts after IPG deal
Advertising giant targets deeper job cuts and restructuring by mid-2028
NEW YORK: Global advertising group Omnicom Group has sharply escalated its cost-cutting ambitions following its acquisition of Interpublic Group, doubling its annual synergy target to $1.5 billion by mid-2028, according to media reports.
The bulk of the savings, $1 billion a year, will come from labour costs, according to Omnicom’s fourth-quarter earnings presentation. This signals further job cuts, restructuring and the relocation of roles to lower-cost markets.
The tougher stance comes just months after Omnicom announced 4,000 redundancies in December, immediately after closing the IPG transaction.
Presentation slides show labour-related synergies accelerating over the next three years, rising to $645 million in 2026, $920 million in 2027 and $1 billion by 2028. The company said the savings will be delivered through a mix of headcount reductions, offshoring and near-shoring, alongside outsourcing selected back-office functions.
Beyond payroll, Omnicom expects to extract $240 million from real estate consolidation and a further $260 million from IT, procurement and operational efficiencies.
The revised $1.5 billion target is double the $750 million estimate flagged when the IPG deal was announced in late 2024, underscoring a more aggressive integration push than previously signalled.
Chief executive John Wren said Omnicom aims to deliver $900 million of the synergies by the end of 2026, with the full run-rate achieved within 30 months. On the earnings call, Wren and chief financial officer Phil Angelastro said early integration efforts had focused on eliminating duplicated corporate and operational functions.
“Unfortunately, you couldn’t keep two of everything,” Angelastro said, pointing to executive and structural overlaps created by the merger.
The restructuring has also led to a simplification of agency brands and reporting lines. Legacy networks such as DDB Worldwide, FCB and MullenLowe Group have been dismantled as standalone entities, with the group reorganised around nine “connected capabilities”, including Omnicom advertising and Omnicom media.
Omnicom is also expanding a unified resourcing model built around offshore hubs in Colombia, Costa Rica and India, which are expected to take on a larger share of delivery and support functions.
Angelastro said artificial intelligence was not the primary driver of staffing reductions, though automation and AI are being explored to lift productivity.
Omnicom expects total headcount to settle at about 105,000 employees, down from a combined 128,000 at the end of 2024. Around 10,000 roles will fall off payroll through divestments and exits from non-core agency assets.
Investors cheered the expanded savings plan. Omnicom shares jumped more than 15 per cent to close above $80, buoyed by the higher synergy target and a separate $5 billion share buyback programme. Analysts at Bank of America called the moves “key positives”, though flagged the absence of organic growth guidance for 2026.
The New York–headquartered group reported an annual net loss of $54.5 million on revenue of $17.3 billion, reflecting one month of IPG contribution and heavy one-off costs linked to the merger and restructuring.
Omnicom will host an investor day on 12 March, where it is expected to outline further integration milestones and capital allocation priorities.
