British American Tobacco plans to lay off 4% of its workforce, including a fifth...
) plans to lay off 4% of its workforce, including a fifth of senior managers, as recently-promoted chief executive Jack Bowles grapples with challenges to the group’s legacy products and health fears over vaping.
The move by BAT, which employed more than 56,000 people at the end of last year, 629 of them senior managers, comes a day after President Donald Trump said that the U.S. would remove all flavored e-cigarettes from shelves, as officials warned millions of children had been drawn into nicotine addiction.
There has been growing concern on the safety of vaping after health officials reported 450 cases of vaping-related lung illness and six deaths linked to its use in the United States. BAT said the planned job cuts would help save money that can be reinvested in the growth of its portfolio and deliver on its target of generating 5 billion pounds of revenue in “new categories” by 2023-24.
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