Publicis-owned technology and marketing services company SapientRazorfish is reported to be restructuring, with the loss of around a hundred jobs and the possible axing of the Razorfish brand name.
The marcoms giant acquired digital agency Razorfish from Microsoft in 2009 for around $530m, and technology and marketing services company Sapient in November 2014 for $3.7bn in cash. The SapientNitro division and Razorfish were then merged as SapientRazorfish. The combined unit launched a 'business transformation' offering last year, with six integrated services spanning data and artificial intelligence, customer experience, and digital business strategy and innovation.
While rumours of the brand's demise have not been confirmed, the agency did admit in a statement to www.mediapost.com that it is looking at its operations with an eye to restructuring, stating: 'The business models of yesterday are becoming obsolete as market forces and rapidly changing client needs are compelling all businesses, regardless of industry, of the need to evolve'. An agency rep told the publication: 'As we work to evolve Publicis.Sapient, we have been evaluating our business model to ensure we can be the best digital transformation partner to our clients. As part of that process, we recently made the difficult decision to part ways with a small number of our people'. It is understood that an estimated 100 employees are being laid off, out of a total workforce of 17,000.
Alan Wexler (pictured) has been CEO of the agency since last autumn. Web site: www.sapientrazorfish.com .