According to foreign media reports, due to a series of difficult regulatory issues and a decline in market share. Electronic cigarette maker Juul Labs plans to lay off about one-third of its employees.
According to informed sources, the number of layoffs between 800 and 950 people is part of Juul Labs’ large-scale restructuring plan. The person said that Juul’s layoffs have nothing to do with the pandemic of the new coronavirus.
Juul did not immediately respond to a request for comment.
In November last year, a Juul executive said that as part of the company ’s CEO K.C. Crosthwaite ’s plan to turn a profit, Juul will lay off about 650 people, accounting for 16% of the 4051 employees at the time.
In addition, Juul’s financial situation disclosed to employees shows that Juul’s sales last year were 2 billion US dollars, but the loss reached 1 billion US dollars.