The company will cut 150 more jobs than it said it would in October.
As part of its cost-saving venture, the company plans on cutting 650 staff positions, or about 16 percent of its total workforce, CNN reported.
"The company's future advertising efforts will focus on direct marketing," according to CNN. That strategy enables companies to communicate directly to a consumer mail, email and texting rather than through advertising, according to. As such, Juul will continue to not advertise its products online, in print or on television, even if such advertising would possibly increase revenue in the long run.
Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
Juul is laying off 650 people in a $1 billion cost-cutting planJuul on Tuesday announced an update to its major restructuring effort that includes layoffs and deep cost cutting. It's the latest development in a series of shakeups since September as Juul attempts to revamp its strategy in the face of heightened scrutiny of vaping.
Weiterlesen »
Juul to cut $1 billion in costs as new CEO aims for rebootJuul 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
Weiterlesen »
The Family Behind Gap Has Lost $1 Billion This Year As Stock Has PlummetedThe retailer’s largest shareholders, cofounder Doris Fisher and her three sons, have seen their stakes shrivel in value.
Weiterlesen »
Live Nation Lost $1.8B in Market Capitalization in Just Three Days. Why?Halloween shouldn’t have been a fright night for Live Nation. But investors still saw enough in the concert promotion-ticketing giant third’s quarter earnings report to get spooked.
Weiterlesen »
Juul to cut $1 billion in costs as new CEO aims for rebootJuul 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
Weiterlesen »