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Possible reductions, which will affect 800 to 950 people, are part of a broader restructuring plan and are not related to the coronavirus pandemic, WSJ reports citing a source.
Juul did not immediately respond to Reuters' request for comment. Last November, the company’s spokesman told the agency that Juul would cut about 650 jobs, or 16%, out of 4,051 people as part of a restructuring plan.
Earlier, the U.S. Federal Trade Commission (FTC) challenged the acquisition by Altria, a tobacco company, of its stake in electronic cigarette maker Juul Labs in 2018. According to the FTC, this purchase prevents fair competition in the market of electronic cigarettes.
Altria bought a 35 percent stake in Juul for $ 12.8 billion at the end of 2018. Since then, the value has fallen to $ 4.2 billion due to several lawsuits against Juul and e-cigarette scandals in the US.
source: wsj.com
Juul did not immediately respond to Reuters' request for comment. Last November, the company’s spokesman told the agency that Juul would cut about 650 jobs, or 16%, out of 4,051 people as part of a restructuring plan.
Earlier, the U.S. Federal Trade Commission (FTC) challenged the acquisition by Altria, a tobacco company, of its stake in electronic cigarette maker Juul Labs in 2018. According to the FTC, this purchase prevents fair competition in the market of electronic cigarettes.
Altria bought a 35 percent stake in Juul for $ 12.8 billion at the end of 2018. Since then, the value has fallen to $ 4.2 billion due to several lawsuits against Juul and e-cigarette scandals in the US.
source: wsj.com
