The agency did not say how many employees were affected. Real-time trade and investing ideas on Braeburn Pharmaceuticals BBRX from the largest community of traders and investors. However, one person close to the situation told Barker that 5 percent of U.S. employees were laid off. 4 hours 3 min ago, By The D&AD today announced a “significant reduction” in staff, blaming revenues “dramatically” declining due to the pandemic. Braeburn Biotechnology Plymouth Meeting, Pennsylvania 4,682 followers Braeburn is dedicated to delivering solutions for people living with the serious, often fatal consequences of OUD. Pfizer and Moderna launching tests of vaccines against UK COVID variant — 2021 best places to work in medical sales — Amgen/AstraZeneca asthma drug has surprising phase 3 flop — See more on our front page news Stay updated with the latest pharma-related coronavirus news on our new page After being employed with the company for only 9 days, I found myself faced with answering questions about how Braeburn’s product is made, what controls are in place and what studies were done to support an NDA approval. By Havas said there were also staff cuts across three of its agencies in the U.K. “COVID-19 has had a significant impact on several of our clients, varying greatly depending on business sector and geography,” a Havas spokesperson said in a statement. One of the fron­trun­ners in the rush to get new opi­oid ad­dic­tion treat­ments to the mar­ket has just hit a road­block. Braeburn Pharmaceuticals. Braeburn is a pharmaceutical company dedicated to delivering solutions for people living with the serious, often fatal consequences of opioid addiction. Still, people close to the matter said cost-cutting measures including furloughs and salary cuts were carried out across the holding company. We develop next generation therapies for opioid use disorder treatment. As businesses remain closed, events shut down and a significant portion of advertising is put on pause due to the coronavirus pandemic, agencies and holding companies have begun implementing layoffs and furloughs, among other cost-cutting measures. While there is great sadness in any of our agencies reaching this point, we have great confidence in the future.”. A Grey spokesperson declined to comment on the specific cost-cutting measures. About Braeburn Pharmaceuticals Braeburn is a pharmaceutical company dedicated to delivering solutions for people living with the serious, often fatal consequences of opioid addiction. Throughout the office the patient is front and center and keeps everyone focused on the goal. The move reverses a prior management declaration to staff in March that no job losses would take place due to the pandemic. Some raised their hands to leave, helping to save the jobs of others. VaynerMedia and Interpublic Group of Cos.' Weber Shandwick are the latest agencies to conduct staff cuts. Braeburn is reinventing how a pharma company operates. WPP's Grey will be furloughing about 3.5 percent of its staff in New York, Ad Age has learned. Braeburn is a wonderful company at which to work. Home Forums > Pharma/Biotech Companies > Happy Holidays from Cafepharma! "Droga5 has made the decision to transition out a number of our people as we continue managing our business for the long term to best serve our clients," an agency spokesperson said in a statement to Ad Age. This comes after WPP CEO Mark Read recently warned that the holding company may have to resort to layoffs in an interview with Ad Age. Golin, a public relations firm within Interpublic Group of Cos., carried out layoffs across its U.S. offices on Monday, Ad Age learned. The work we are doing can make a difference in the lives of patients who often shoulder the burden of treatment themselves. A top down, bottom up culture isn't just preached, it's lived. ", In its first-quarter earnings report, WPP said it had recently implemented further cost-cutting measures including reducing "headcount in certain areas." Through this, we’re committed to treating any impacted colleagues with the respect and consideration that they deserve, we thank them for their contribution and we will do what we can to support them as they transition to their next chapter. Interpublic Group of Cos.' MullenLowe has cut 10 percent of its U.S. staff due to financial difficulties related to the coronavirus pandemic, Ad Age has learned. This is the right time to come to Braeburn. Together with counseling and support, Braeburn’s next generation medicines are developed with an aim to support patients with OUD as they focus on the reintegration of their lives and communities. Braeburn Pharmaceuticals, which is commercializing a long-acting implant for treatment of opioid addiction, withdrew its plans for an initial public. He added that "senior executives including myself will take some significant [salary] reductions in order to maintain responsible [staff] reductions.". Read had said: “Our principle is: protect our people to protect the company, so we’re ready when we come out on the other side of this ... but, realistically, we have to expect there will be layoffs.". Any agency that gets them is lucky.". DOW 0.00%. Independent agency Giant Spoon has laid off 20 percent of its staff due to the coronavirus pandemic's negative impact on its experiential business. Omnicom underwent rounds of layoffs across its agencies just days after Chairman-CEO John Wren warned that furloughs and layoffs were imminent across the group. Share a Photo. For other ways agencies are responding and adapting to the pandemic, check out this tracker; and for a frequently updated list of how marketers are responding, click here. IPG's R/GA confirmed that it laid off 10 percent of employees as well as furloughed "some staff" across its U.S. offices. “As an industry, we are navigating through an unprecedented time as this global pandemic continues to impact our clients’ businesses,” VaynerMedia Founder-CEO Gary Vaynerchuk said. Those people said Epsilon, Spark Foundry, Hawkeye and Arc Worldwide were amongst the agencies affected by these measures. "How long this will last seems to be anybody’s guess, so we have had to make some hard choices. In my pharma career I've never felt more valued and included in … WPP, which reported that its like-for-like revenue less pass-through costs fell by 7.9 percent in March due to the pandemic, also said it had implemented voluntary "salary sacrifice and part-time working. - A variety of actions across our agencies are being implemented that include salary cuts, freezes on hiring and temporary labor, major cuts on nonessential spending, and furloughs in markets where that option is available. Dec 23, 2020, 17:56 ETMeat Institute Remains Focused On … Sign Up. "This was neither an easy, nor a simple decision. As a consequence we have had to develop a survival plan. 16: Burberry debuts a mesmerizing, modern take on 'Singin' in the Rain', Allstate's 'Mayhem' among the brand characters sidelined in 2020, Shiner beer names new agency after Richards Group exit, How marketers responded to the coronavirus in the first three months, A regularly updated list of how agencies are responding to coronavirus, - Read additional free articles each month, - Comment on articles and featured creative work, - Get our curated newsletters delivered to your inbox. Our people are our most valuable asset and we feel for them as well as everyone affected by this situation around the world.”. Ann-Christine Diaz - 1 month 2 weeks ago, By We are actively looking at reducing all costs within every area of the organization in an effort to minimize impact and VaynerMedia remains committed to taking care of both our people and our clients.”, MDC's CPB confirmed that it has furloughed and laid off some staff. To allow its staff to spend holiday time with their families, the Cafepharma Message Boards will be switched to read-only from 6:00 PM Eastern time on Thursday, December … We consider our people to be our greatest strength and are doing everything we can to ensure we have a healthy and sustainable business for them and our clients after this crisis passes.”. (2017, June 05). Independent agency Wieden+Kennedy, which had been on a new business tear before the pandemic, is laying off 11 percent of worldwide staff due to client cutbacks, Ad Age has learned. | COM-1002 January 2019. Dec 24, 2020, 07:59 ETAurobindo Pharma and COVAXX Sign an Exclusive Agreement to Develop and Commercialize COVID-19. Braeburn Pharmaceuticals, an Apple Tree Partners company, is a pill-free pharmaceutical company delivering precision medicine in neuroscience. “We are deeply saddened to have made the decision to reduce our full-time headcount," an agency spokesperson said in a statement. This is a continually updated blog dedicated to tracking the agencies that have undergone furloughs and staff cuts. ", The spokesperson continued, "Our people are at the heart of our business and that makes these decisions extremely difficult. “Unfortunately, given the increasingly challenging environment, we have had to make additional difficult decisions, including position eliminations, furloughs and taking some employees to a reduced schedule,” the Weber Shandwick spokesperson said. In my pharma career I've never felt more valued and included in … "We’re grateful for the work of each of the very talented people leaving us and their contributions to shaping this iteration of R/GA. "As such, we have had to make adjustments in order to react to the changing needs of our business. - Unfortunately, despite these efforts, in some markets we will have to make staff reductions and part ways with talented employees. Stay up to date on the latest stock price, chart, news, analysis, fundamentals, trading and investment tools. A Dentsu Aegis Network spokesperson declined to comment on the layoffs. People close to the agency said the furloughs are expected to last approximately three months. Edelman laid off around 390 people, representing about 7 percent of its staff, as the COVID-19 pandemic has led to a widespread revenue downturn, according to an internal email obtained by Crain’s Chicago Business reporter Dalton Barker. It is unclear exactly when the layoffs occurred but the news comes after Ad Age learned Publicis Groupe implemented staff cuts, furloughs and salary reductions last week across several of its agencies, including Epsilon, Spark Foundry, Hawkeye and Arc Worldwide. Adjustments in order to react to the business claimed only about 1 percent of U.S. employees were affected to all... Front lines of addressing the opioid crisis at Bristol-Myers Squibb job you Love BBRX from largest. 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