Juul Is Cutting One-Third of its Workforce

And these cuts aren't related to the coronavirus.

 

In a break from the norm, one business is announcing massive job cuts that aren’t related to the coronavirus.

The Wall Street Journal has reported that vaping company Juul Labs is planning to lay off about one-third of its staff.

This amounts to between 800 and 950 workers.

Makers of vaping products have been hit by an onslaught of consumer complaints and regulatory pressure.

The FDA has been working towards tougher regulation of the industry, but the COVID-19 crisis has delayed the agency’s efforts.

Meanwhile, Juul has dealt billions in losses to Marlboro maker Altria, who owns a 35% stake.

A spokesperson told the WSJ that the layoffs were part of the company’s “ongoing reset.”


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