Juul Labs Is Looking to Cut a Third of Its Employees
Juul Labs is considering significant cuts to its workforce. The Wall Street Journal on Wednesday reported that the e-cigarette manufacturer, which is part-owned by tobacco giant Altria Group (NYSE: MO), is considering reducing staff by one-third, or about 900 workers.
The move isn't related to the COVID-19 pandemic, according to the report, but instead has to do with sales challenges brought on by declining market share. Juul is also facing more regulatory burdens, with the Federal Trade Commission recently seeking to end Altria's financial investment.
Image source: Getty Images.
Source Fool.com