Juul aims to reduce its workforce to about 1,000 employees
E-cigarette giant Juul Labs Inc. could cut more than half its workforce, according to a person familiar with the company’s plans, while it weighs exiting more European and Asian markets — further signs of the once high-flying company’s deteriorating fortunes.
Juul aims to reduce its workforce to about 1,000 employees, down from the current 2,200, the person said. A Juul spokesman said that no final decisions have been made and that the company will continue to evaluate its options.
The San Francisco company announced plans to lay off more workers in a Wednesday message to employees from Chief Executive K.C. Crosthwaite. The email said Juul is still in the exploratory phase and didn’t detail how many employees will be cut or how many countries it may exit. Juul has already cut its workforce by about 40% and halted global expansion.
The Wall Street Journal first reported news of the changes.
To Read The Rest Of This Article On LA Times, Click Here