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Juul plans to cut a third of its workforce: WSJ

FILE PHOTO: Shopkeepers stand inside a Juul shop at a shopping mall in Jakarta, Indonesia, December 30, 2019. REUTERS/Ajeng Dinar Ulfiana

(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 here 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 16%, 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

http://feeds.reuters.com/~r/reuters/businessNews/~3/RcVqfg9t0-g/juul-plans-to-cut-a-third-of-its-workforce-wsj-idUSKBN22B2LN

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