Mumbai/IBNS, Dec. 2 -- Global media and marketing powerhouse Omnicom is set to lay off 4,000 employees and shut down several long-standing advertising agencies as part of a major restructuring following its acquisition by US-based Interpublic Group (IPG), the Financial Times reported.

As part of the consolidation, IPG-owned FCB, one of the world's largest advertising networks, will be folded into Omnicom's BBDO. Creative agencies DDB and MullenLowe will also be merged with Omnicom's TBWA, the report added.

The move comes amid rising competitive pressure from tech giants such as Google and Meta, whose advanced AI advertising tools are disrupting traditional agency models.

With AI enabling businesses to produce ads rapidly and at low cos...