Ingram and George Milburn, who led the global team, have been dismissed. The company still has a small number of marketing staff in Europe, one of the people said. People said on the condition of anonymity that Tesla’s design studio and employees based in Hawthorne, California have also been cut significantly. In a post on
This cut marks the beginning of Tesla’s new advertising initiative. The EV maker had not given TV, radio, print or online ads for a long time. Till now the brand was built largely through word-of-mouth promotion. Earlier last year, Musk had said that Tesla will also try some ads and see how it works. Ingram started building the growth team about 4 months ago. Investors have asked Musk to focus more on marketing as global EV sales growth has slowed and more brands have entered the market to compete.
The layoffs in Tesla’s growth team are the largest job cuts the company has ever made. Regarding this, Musk had said last week that this will affect more than 10% of the global workforce. Bloomberg reported this week that the CEO has insisted on a 20 percent cut, which would mean more than 20,000 jobs at risk. Tesla shares fell 3 percent at 12:20 p.m. Monday in New York. The stock has fallen more than 40 percent this year and is the second-worst performing stock in the S&P 500 index.
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