UPDATE 1-Omnicom cutting jobs as coronavirus hits ad spending by clients [Reuters]
Omnicom Group Inc. (OMC)
Last omnicom group inc. earnings: 4/28 06:25 am
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Source: Reuters
UPDATE 1-Omnicom cutting jobs as coronavirus hits ad spending by clients (Adds share movement, details from the conference call) April 28 (Reuters) - Advertising firm Omnicom Group Inc said on Tuesday it was cutting jobs and furloughing employees as the coronavirus lockdowns dent ad spending by clients. The advertising giant said it had over $2.6 billion in cash and $2.9 billion in credit facility to tide over the virus crisis. Shares of Omnicom were up 3.3% in morning trading. The company, which counts McDonald’s, Johnson & Johnson and Volkswagen as clients, said that stay-at-home orders and store closures led to the decline and added it expects the trend to continue for the year. Omnicom, struggling with ad budget cuts, has segued into making information campaigns related to coronavirus and worked with governments to run virus awareness initiatives. The company, which did not disclose the number of job cuts, said a fall in revenue could hurt its operations and financial position, an
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OMC
News
- Omnicom Group (NYSE:OMC) had its price target raised by analysts at UBS Group AG from $99.00 to $108.00. They now have a "buy" rating on the stock.MarketBeat
- Omnicom outlines new agency structure as IPG deal sharpens AI, data focus [Yahoo! Finance]Yahoo! Finance
- Omnicom's CEO breaks down his plan to beat rivals in AI after the ad giant's blockbuster $9 billion IPG deal [Yahoo! Finance]Yahoo! Finance
- Omnicom's CEO breaks down his plan to beat rivals in AI after the ad giant's blockbuster $9 billion IPG deal [Business Insider]Business Insider
- Omnicom to cut 4,000 jobs, shut several agencies after IPG takeover, FT reports [Yahoo! Finance]Yahoo! Finance
OMC
Earnings
- 10/21/25 - Beat
OMC
Sec Filings
- 12/5/25 - Form SCHEDULE
- 12/3/25 - Form S-4
- 12/2/25 - Form 8-K
- OMC's page on the SEC website