MOSAIC DOWNSIZING
By Adnews Staff
Toronto-based marketing company Mosaic Group will cut 10% of its full-time employees as part of a restructuring plan to be completed by the second quarter of this year. The consolidation of a number of offices is also planned. In January the company reorganized its 23 indepenendent businesses units into four, reducing its staff at that time by 10% as well. According to Mosaic, "Management expects to realize significant cost savings and improved efficiencies," through the reductions. "No CEO ever likes to have to conduct such a restructuring," said Marc Byron, who become chief executive officer of Mosaic Group on Jan. 1, "Yet I committed upon accepting this position that I would act decisively and in the long term interests of the shareholders and the brand we serve." Mosaic has operations in Canada, the U.S. and the United Kingdom.