Economy9 hours ago (Apr 29, 2020 01:00PM ET)
(C) Reuters. Shopkeepers stand inside a Juul shop at a shopping mall in Jakarta
(Reuters) – Juul Labs Inc is planning to cut around a third of its staff as the e-cigarette maker faces a relentless series of regulatory headaches and falling market share, the Wall Street Journal reported on Wednesday.
The cuts, which translate into between 800 and 950 people, are part of a broader restructuring plan and are not related to the novel coronavirus pandemic, the Journal reported https://www.wsj.com/articles/juul-labs-preparing-to-cut-more-than-30-of-staff-11588174780?mod=searchresults&page=1&pos=2, citing a person familiar with the matter.
“As part of our ongoing reset, we are constantly evaluating our operations and the best way to position our company for the long,” a Juul spokesman said.
Last November, a company official told Reuters said Juul would cut around 650 jobs, or 16%, of its then 4,051-strong workforce as part of Chief Executive Officer K.C. Crosthwaite’s turnaround plan.
Juul plans to cut a third of its workforce- WSJ
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