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Layoffs in Calif.: Chiat Axes 40; Team One Cuts 25; Saatchi Hits 20

By Jim Edwards

Updated on: April 9, 2009 / 12:52 PM EDT / MoneyWatch

A source tells BNET that three California agencies -- TBWA/Chiat/Day, Team One and Saatchi & Saatchi -- made a round of layoffs yesterday and Tuesday. Here's the count:

Chiat: 40
Team One: 25
Saatchi: 20

Team One made no announcement in order to guard the feelings of the affected employess, the source says, The source also noted that there's a lot of free talent on the market in LA right now.

The layoffs bring the BNET Ad Agency Layoff Counter to 27,281 jobs lost (a likely undercount of the true damage).

The layoffs at Chiat come despite the agency's win of the Vonage account. The cuts are driven by spend reductions at Chiat's Nissan client, says Adweek.

While Team One has a number of clients, it grew out of its auto client, Lexus. Luxury cars are not selling well in the recession. Ritz-Carlton and Whole Foods are its other upscale clients, currently marketing into downscaling economic headwinds.