After Troublesome Year, Juul Makes a 'Right-Size' MoveNewser — Jenn Gidman
Due to the public's "lack of trust" in the vaping industry, Juul cut four of its fruit- and dessert-flavored products last month. Now, confirming rumors from last month, the e-cigarette maker says it will cut 650 jobs, or about 16% of its workforce, reports the Wall Street Journal.
Juul will also make slashes in marketing and government affairs in an attempt to cut spending by $1 billion, the official adds. Per the Mercury News, the company will also phase out its chief marketing officer role.
In a statement, Juul notes the moves are being made to "right-size" the company. "This reorganization will help Juul Labs focus on reducing underage use, investing in scientific research, and creating new technologies while earning a license to operate in the US and around the world," CEO KC Crosthwaite says in the statement.
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This article originally appeared on Newser: After Troublesome Year, Juul Makes a 'Right-Size' Move