AD Agencies
WAT’s Your Big Idea 2.0 gets bigger
MUMBAI: After the success of its inaugural edition last year, digital and social media agency WATConsult has launched WAT’s Your Big Idea (WYBI) 2.0. It is the second season of WYBI, a digital ideation competition for colleges across India that provides a unique platform and opportunities to the next generation in the field of digital advertising and marketing.
This year, besides the cash prize, endorsed certificate, and an assured job offer, the winning team will also get an opportunity to visit Cannes Lions in 2018.
During WYBI,students get an opportunity to work on live projects, understand the nuances of creating digital campaigns for notable brands, and showcase their creative skills to the best brand marketers in the country.
The agency has partnered institutes such as MICA, SIMC, IIM Bangalore, IIM Indore, SP Jain, Jamnalal Bajaj, NMIMS, and Jai Hind along with brands like Swarovski, Madame Tussauds, HE face wash, Savlon (ITC Group), Jack and Jones, and Naturolax (Piramal Healthcare).
WATConsult founder and CEO Rajiv Dingra said, “Considering the overwhelming responses from students last year, we decided to offer them an international platform to meet, be inspired, and interact with the advertising stalwarts of the world. The winning team will have the opportunity to win an all-expenses trip to Cannes Lions 2018.”
Dentsu Aegis Network chairman and CEO South Asia Ashish Bhasin added, “Last year was a benchmark setter. The students came up with some exciting and innovative ideas and I am looking forward to the entries this year. WATConsult’s initiative has helped us find some really good talent and we will continue supporting their efforts.”
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.
