IPG’s Elephant went through a round of layoffs in its New York headquarters this week. According to two parties with direct knowledge of the matter, approximately 20 employees were let go.
It is unclear at this time which specific departments teams were affected.
The news comes several months after client Goldman Sachs held an agency review, assigning lead creative duties for its consumer lending platform Marcus to 72andSunny New York.
One person said the changes stemmed, at least in part, from that client’s shift. Elephant’s other clients include Beats, Comcast and, of course, Apple.
“We have made a sequence of changes in order to employ the skill set we see necessary to fit Elephant’s ambition and vision for the future,” said an agency representative, who added that the shop continues to handle portions of the Goldman business in both the U.S. and the U.K. Our earlier post on the account noted that the London office, which officially opened last summer, was specifically created to service GS, and Elephant reportedly helped design the Marcus platform.
A 72andSunny spokesperson deferred to the client, and Goldman Sachs declined to comment.
All this aside, Elephant has been growing. It very recently announced several key hires on the vp level, including creative talent from McCann and BBH among other shops.
The July story noted that an organization that started within Apple itself has since expanded to include locations in London, San Francisco and L.A. after taking over Huge’s offices in the latter city.