Omnicom Group Inc at JPMorgan Global Technology, Media and Communications Conference Transcript
All right. So I'm happy to have back at the conference this year. Omnicom. With us today, we have John Wren, Chairman and CEO; Philip Angelastro, EVP and CFO; and at the end, Paolo Yuvienco, CTO. Thanks so much for being here today, guys.
Questions & Answers
John, maybe I'll start with you. So you recently reported your first full quarter following the IPG acquisition. Maybe we could start there. Can you update us on where things stand with integration and how the merits of the deal look relative to your initial expectations?
Okay. Well, we're well on target with our synergies and what we promised. Most of the synergies we promised this year were real estate related initially and then labor. Real estate is probably $150 million, that was taken care of immediately almost day 1.
And the second part was labor. The labor started
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