OCTOBER 23, 2023 — 30% OF STAFF TARGETED
The financially and legislatively embattled company announced that it plans to lay off roughly 30% of its workforce as it seeks to raise additional capital or sell the company.
The reduction will impact approximately 250 employees.
NOVEMBER 10, 2022 — THE COMPANY AVOIDS BANKRUPTCY AND LAYS OFF 30% OF ITS WORKFORCE.
The company has announced additional cost-cutting measures, including a reduction in force impacting 400 employees.
The company still faces hundreds of lawsuits and onerous regulations like those banning flavored tobacco products.
SEPTEMBER 5, 2020 — MORE REGULATIONS EQUAL MORE LAYOFFS
The company has announced that it is preparing to execute another “significant round” of layoffs and considering stopping sales in Europe and Asia. The reason given is the increasingly hostile regulatory environment regarding the crackdown on underage vaping and the potential link between COVID-19 and vaping activities.
It is believed that approximately 1,200 employees may be impacted as the company attempts a major reduction in force. Evaluation of the situation is ongoing.
NOVEMBER 13, 2019 — ANOTHER 150 LAYOFFS
Now the total is 650 employees.
NOVEMBER 12, 2019 — Original post …
San Francisco, California-based Juul Labs, the electronic cigarette company that sells a nicotine delivery system believed by some to be safer than conventional tobacco-based products, has announced that it is planning a reduction in force to better align employee headcount with the existing operations and marketplace demands. It is estimated that approximately 500 employees will be laid off. The company continues to face regulatory headwinds and a potential problem linking lung injuries and deaths to so-called “vaping” products.
In September 2019, the company’s new CEO, K.C. Crosthwaite, a veteran of Altria, one of the world’s largest tobacco operations, claimed he would “continue a broad review of the company’s practices and policies to ensure alignment with its aim of responsible leadership within the industry. Effective immediately, JUUL Labs announced the company was: “suspending all broadcast, print, and digital product advertising in the United States and refrain from lobbying the Administration on its draft guidance and committing to fully support and comply with the final policy when effective.” This reduction in marketing activities likely is the major driver of the reduction in force.
Altria will revalue its 35% 2018 investment in Juul from $13 billion to $8.5 billion. Look for a number of Altria executives and specialists to join Juul in its turnaround efforts.
Change is coming. There will always be a tomorrow, no matter how much you may try to ignore it. There are no guarantees in life or promises for a bright future. Just because something bad hasn't happened yet, doesn't mean it won't. It can happen to anyone, anytime, anywhere. No one is guaranteed to wake up tomorrow and still have a job by evening. Are you now wondering, Am I Next?