Juul Labs is restructuring its operations following a regulatory crackdown on vaping. The e-cigarette maker will cut nearly $1 billion in costs and slash 16% of its workforce
- Juul Labs Inc will cut nearly $1 billion in costs next year, a company official said on Tuesday, as its new chief executive officer tries to turn around the e-cigarette maker following a regulatory crackdown.
The official also said Juul would cut around 650 jobs, or 16% of its 4,051 strong workforce, starting Tuesday. The company had previously said it would cut 10-15% of its workforce by the end of this year.
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