Juul Labs plans to cut about 500 jobs by the end of the year, the Wall Street Journal reported, citing people familiar with the matter.
The e-cigarette giant suspended sales of all fruity flavors ahead of the Trump Administration's expected removal of all flavored e-ciagarettes from the market.the Wall Street Journal reportedThe cuts are part of a broader reorganization plan aimed at repairing the company's relationship with regulators, the report said.
The e-cigarette giant will also cut its marketing budget and invest in ways to limit underage vaping.The e-cigarette market is undergoing "a necessary reset," the company's new CEO K.C. Crosthwaite said in a statement Monday to the Wall Street Journal, adding that the company's focus is to earn "a license to operate in the U.S. and around the world."
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Juul to Cut About 500 JobsJuul Labs plans to cut roughly 500 jobs by the end of the year, reversing the embattled e-cigarette maker’s rapid expansion amid a mysterious vaping-related illness and a proposed ban on flavors that make up more than 80% of its U.S. sales.
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