Samsung has pulled its print division incentive contract from Pickled Egg Events, resulting in redundancies at the agency.
The agency has cut three posts, including business development manager Simon McGee and marketing director Bibi McGee. The move sees Ricky Knight take charge of new business and marketing in addition to his director role, and leaves the headcount at four.
It comes just four months after Samsung Notebooks appointed Pickled Egg Events to run its 2009 distributor and reseller campaign after a nine-way pitch. The agency will continue to work with Samsung's Notebook and Screen divisions for strategic events and launches.
Managing director Ricky Knight said incentive travel had "taken a significant nose dive". "Reducing overheads is an unfortunate yet essential step that we have had to take," he added. "As a company we are focusing on less ‘extravagant' incentive travel, and focusing on our online incentive management system Pointbank, which helps corporate clients measure ROI for their programmes."