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E-cigarette giant Juul plans to lay off a third of its employees lost $ 1 billion last year

2020/05/06|Industry news

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.

Cartridge Vape like Juul

Cartridge Vape like Juul

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.

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