Independent company The Many undergoes significant staff reductions, affecting approximately half of its workforce.
L.A. Ad Agency The Many Slashes Staff Amid Financial Struggles
It’s no secret that the City of Angels is facing a massive budget crisis, and it's taking a toll on local businesses, including advertising agencies like The Many. The indie shop has been slicing its workforce in multiple rounds of job cuts, leaving dozens of employees in the lurch.
Co-founder Christian Jacobsen confirmed the agency’s adjustments, but shied away from revealing exact numbers. However, sources in the know have spilled the beans about nearly half of The Many's employees face the cold shoulder. The first axe fell in April, following the departure of a premier client– supposably Google– according to these same insiders.
The second, more devastating round of layoffs happened just last Friday, leaving scores of employees out on the street. In a statement to Adweek, Jacobsen lamented, "I regret to confirm we’ve made changes at the agency."
The financial strife engulfing L.A. has hit other city agencies hard, like the Los Angeles Homeless Services Authority (LAHSA). Eleven employees at LAHSA have received layoff alerts, with layoffs set for June 30, 2025. However, if enough employees opt for early voluntary departures, the number of involuntary layoffs might decrease.
The City of L.A.'s budget shortfall is as sharp as a razor, resulting in a lean $13.9 billion budget for the fiscal year 2025-26, including a reported 650 layoffs and reduced funding for public services, like homelessness programs. This budget crisis is the most critical one in nearly two decades, forcing tough decisions on layoffs and cuts across numerous departments.
LAHSA’s financial troubles stem from budget shortages leading to the loss of county funding. To add insult to injury, the Los Angeles County Board of Supervisors whisked away around $300 million in Measure A funds earmarked for LAHSA and assigned them to a new county homeless services agency by July 2026.
Agencies like The Many might be riding the same turbulent financial waves. Budget deficits, reduced funding, and questions about financial accountability could all contribute to job cuts within the industry. To soften the blow, agencies like LAHSA are encouraging employees to consider voluntary separations, if eligible, in an attempt to minimize involuntary layoffs.
So, next time you’re cruising down Sunset Boulevard, don’t be surprised if you spot a few empty desks at The Many's offices. It's just another casualty of L.A.'s ongoing budget nightmare.
The ongoing financial struggles in Los Angeles could potentially impact not only city agencies but also private businesses like advertising firms. For instance, The Many, an indie shop in the city, has been making significant job cuts due to financial strains, which could be linked to the departure of premier clients and budget deficits. Such changes in the business world might also lead to career alterations for many individuals, especially in the finance and ETF sectors, as the economic climate remains uncertain.
