Jaywing to make redundancies as part of restructuring
Jaywing is making several redundancies as it continues to “review its business structure”.
Last month, the Sheffield-headquartered digital marketing agency reported a reduction in revenue from £41.5m to £35.5m. Publication of the annual results to the year ending 31st March 2019 had been delayed following a “very weak” first quarter of trading.
Jaywing Chief Executive Rob Shaw told Prolific North: “As recently announced regarding the refinancing of our business, we have strengthened our balance sheet and are currently reviewing our business structure.
“This will enable us to align the operation and skills of our workforce to focus on the needs of both our existing and new clients. Regrettably, this will impact a very small number of roles within our business, and we will of course aim to conclude this process quickly and minimise any impact on our team.
“As this is a current process, we are unable to make any further comment at this time.”
Jaywing would not comment on rumours that the agency has lost its contract as agency of choice for Collective Wellness Group’s brand and communications. The Group owns global gym brand Anytime Fitness, which is the biggest fitness community in Australia.