Employees are rightly raging angry judging the comments on the news about WPP decision to fold Enfatico into Y&R.
Warren Buffett always cites durable competitive advantage as a moat surrounding your business, in this instance the castle just collapsed around them. Did the basket of companies acquired to build up Enfatico’s capabilities prepare for a sharp exit strategy? Friends and colleagues are amongst this news.
“Torrence lied. Wasn’t their a video of him going on and on, on how Enfatico is doing well and projects were planned, and stuff was all good. BU$#hit. Advertising is based on lying. Staff lie, HR lie a lot to candidates. PR lie. CEOs lie and make fake statements. This isn’t a creative industry anymore. Its about lying and presenting a false front to sell products or anything and by any means necessary.”
Several blog comments from the days news had a similar dishearten view of it all:
“I would start with “don’t call yourself the agency of the future until you have the slightest idea of what to do with the present.”