Juul will cut 650 jobs, up from the previously planned 500 jobs, as it aims to slash nearly $1 billion in costs next year. The company is also cutting ads, as it tries to overhaul its image, which is largely blamed for fueling a teen vaping epidemic.
Juul will cut marketing spending as the company halts all product advertising in the U.S., a move the company announced in September. The remaining team will focus on direct advertising to smokers, the Juul official said Tuesday.
Juul is trying to overhaul its image from a company that's largely blamed with fueling a teen vaping epidemic. The company in September replaced CEO Kevin Burns with longtime tobacco executive Crosthwaite., the tobacco company that took a 35% stake in Juul late last year. Since joining Juul, he has shaken up management and led the cuts.Juul said it would halt sales of its mint-flavored
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Juul is laying off 650 people in a $1 billion cost-cutting planJuul on Tuesday announced an update to its major restructuring effort that includes layoffs and deep cost cutting. It's the latest development in a series of shakeups since September as Juul attempts to revamp its strategy in the face of heightened scrutiny of vaping.
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