Advertising shop Foote Cone & Belding Inc. is cutting 20 people from its Irvine operation and putting it under its San Francisco office, according to trade publication Adweek.
The local operation is set to become a service office for main client Taco Bell Corp., an Irvine-based unit of Yum! Brands Inc. The 20 layoffs are about a third of Foote Cone & Belding’s local workforce, according to Adweek.
Taco Bell’s $230 million account now will be handled by FCB’s Chicago office and combined with other Yum work.
Managers in Irvine now will report to FCB San Francisco president Dominic Whittles, according to the report.
Irvine president Jon Tracosas has left.
Foot Cone & Belding, part of Interpublic Group of Cos., is Orange County’s second largest ad shop after Young & Rubicam Brands in Irvine.
FCB in Irvine has $400 million in estimated yearly capitalized billings.
The shop hired Tracosas in 2003 to replace Jim Harrington, who left to join former FCB creative director Scott Montgomery at Irvine-based O’Leary & Partners.
Tracosas was charged with jumpstarting FCB after a dry spell of account wins and the deptures of Harrington and Montgomery.
Along with supporting Taco Bell, the Irvine office is set to work on accounts for Hilton Hotels and Automobile Club of Southern California, according to Adweek.
