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.
Juul did not immediately respond to Reuters request for comment.
Last November, a company official told Reuters said Juul would cut around 650 jobs, or 16per cent, of its then 4,051 strong workforce as part of Chief Executive Officer K.C. Crosthwaite's turnaround plan.
(Reporting by Uday Sampath in Bengaluru; Editing by Shailesh Kuber)