Braeburn is reinventing how a pharma company operates. One person close to the matter told Ad Age that the furloughs were put in place for one quarter. "This was neither an easy, nor a simple decision. Our goal is to service our clients while protecting as many jobs as we can, and we will of course provide as much support as possible.". - The spokesperson said less than 2 percent of staff was cut in the latest round. The company has also furloughed 5 percent of its global workforce and terminated an additional 3 percent.". “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. Our people are our most valuable asset and we feel for them as well as everyone affected by this situation around the world.”. A high-level overview of Braeburn Pharmaceuticals (BBRX) stock. “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. We develop next generation therapies for opioid use disorder treatment. Braeburn is a pharmaceutical company dedicated to delivering solutions for people living with the serious, often fatal consequences of opioid addiction. The bottom line is the direct and widespread impact caused by the COVID-19 pandemic has done serious damage to our experiential business, which now consists of a core team including leadership, who are working to help clients find digital paths forward. Braeburn Pharmaceuticals. 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. "The company has taken steps to protect its business and global workforce amidst the global pandemic," a statement from Wasserman read. A spokesperson for Edelman, co-headquartered in Chicago and New York, declined to detail the layoffs by office location. “No one is immune from the impact and, consequently, in response to a tough business context caused by the coronavirus directly impacting our clients, we have had to let a number of people go—22. 4 hours 3 min ago, By BBRX. 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. This is a necessary step so that we may continue to offer our clients the best service while planning for the future. Braeburn Pharmaceuticals. Adrianne Pasquarelli - 2 days 4 hours ago. Sign Up. Publicis declined to comment but one person close to the business claimed only about 1 percent of U.S. staff was cut last week. According to the memo, the business was operating at an 11 percent margin in March as the pandemic spread throughout the U.S., writes Barker. 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. A spokesperson for the company declined to go into detail so it is unclear how many people were affected. The Company's mission is to advance a portfolio of next-generation therapies, with individualized dosing regimens and delivery options, to address the escalating disease burden of addiction faced by patients and healthcare professionals. VaynerMedia had previously laid off about 5 percent of staff in April, due to the coronavirus pandemic. He added that "senior executives including myself will take some significant [salary] reductions in order to maintain responsible [staff] reductions.". Giant Spoon said that it has been "forced to halt production on several 2020 experiential projects." Amid the layoffs, D&AD CEO Patrick Burgoyne also “unselfishly volunteered to relinquish his role and step down,” the organization said. We aim to reduce stigma by raising awareness that opioid use disorder (OUD) is a chronic brain disease best treated by evidence-based medication. We all hoped they would never have to be made, as they come through no fault of any one of our valued employees. Upon injection and contact with fluids in the tissue, the lipid solution transforms into a liquid crystalline gel, which encapsulates the active ingredient, allowing for a slow release of the drug over time. Throughout the office the patient is front and center and keeps everyone focused on the goal. 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