Young & Laramore making 'significant' staff cuts

Anthony Schoettle
November 26, 2008
Back to TopCommentsE-mailPrintBookmark and Share
Young & Laramore is making what it says are "significant" staff cuts in the wake of losing the Steak n Shake account. Though Y&L CEO Paul Knapp declined to say how many of the firm's 66 employees have been or would be terminated, industry sources pegged the number at about 20.

After 18 years with Y&L, Steak n Shake's new CEO, Sardar Biglari, said in November that the restaurant chain is going in a different direction with its advertising and marketing. The relationship has already started to wind down and officially ends Feb. 3, Knapp said.

Though Steak n Shake - which has been plagued recently by declining sales - is Y&L's biggest account, the ad agency is not in danger of going out of business, Knapp said.

"I'm confident we're going to put ourselves in a position to recover from this and thrive," Knapp said. "No partners and no senior members are leaving and no divisions are going away."

To survive, he said, Y&L will begin more aggressively going after national accounts in the retail and consumer packaged-goods categories, green and sustainable goods and services, and - for the first time in many years - the restaurant category.

While the local ad agency's focus will remain on national accounts, Y&L will pursue smaller aspects of accounts and not just agency-of-record assignments.

Y&L also will proceed with plans to launch a design and digital unit in early 2009.

Post a comment to this story

We reserve the right to remove any post that we feel is obscene, profane, vulgar, racist, sexually explicit, abusive, or hateful.
You are legally responsible for what you post and your anonymity is not guaranteed.
Posts that insult, defame, threaten, harass or abuse other readers or people mentioned in IBJ editorial content are also subject to removal. Please respect the privacy of individuals and refrain from posting personal information.
No solicitations, spamming or advertisements are allowed. Readers may post links to other informational websites that are relevant to the topic at hand, but please do not link to objectionable material.
We may remove messages that are unrelated to the topic, encourage illegal activity, use all capital letters or are unreadable.

Messages that are flagged by readers as objectionable will be reviewed and may or may not be removed. Please do not flag a post simply because you disagree with it.

Sponsored by

facebook - twitter on Facebook & Twitter

Follow on TwitterFollow IBJ on Facebook:
Follow on TwitterFollow IBJ's Tweets on these topics:
Subscribe to IBJ