Tesla eliminated a newly formed marketing team as part of its companywide layoffs, reversing course from a traditional advertising push that Chief Executive Officer Elon Musk greenlighted less than a year ago, Ed Ludlow of Bloomberg reports. The company’s “growth content” team in the U.S., a group of about 40 employees run by senior manager Alex Ingram, was eliminated in the ongoing job cuts, people familiar with the matter told Bloomberg. Ingram was part of the reduction, one of the people said. The company still has a smaller marketing group in Europe, the source added. There were also significant layoffs in Tesla’s design studio and staff located in Hawthorne, California, said the people.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on TSLA:
- Tesla and Li Auto Slash Prices Amid Intensifying Market Competition
- Options Volatility and Implied Earnings Moves This Week, April 22 – April 26, 2024
- MGK, XLG: 2 Best “Magnificent Seven” ETFs with Over 15% Upside, According to Analysts
- Li Auto or BYD: Which EV Stock is Poised to Lead the Charge?
- Tesla Stock (NASDAQ:TSLA) News: Key Insights Ahead of Q1 Earnings