E-cig maker cuts 650 jobs to save $1B

Jerry Bellune
Posted 11/14/19

Vaping in Question

E-cigarette maker Juul’s latest move is not encouraging for Lexington County.

Juul announced it will cut about 650 jobs – 16% of its workers – …

This item is available in full to subscribers.

Subscribe to continue reading. Already a subscriber? Sign in

Get 50% of all subscriptions for a limited time. Subscribe today.

You can cancel anytime.
 

Please log in to continue

Log in

E-cig maker cuts 650 jobs to save $1B

Posted

Vaping in Question

E-cigarette maker Juul’s latest move is not encouraging for Lexington County.

Juul announced it will cut about 650 jobs – 16% of its workers – to save $1 billion.

Juul has said little about plans to open a $125 million Lexington County plant.

Lexington County officials have been silent, too.

An unidentified Juul official told The Wall Street Journal the e-cigarette maker expects a blow to sales after ending sales of its most popular fruit flavors.

The newspaper reported that Juul this year had added about 300 employees a month, and its staff has swelled to just over 4,000.

It froze hiring in September before CEO K.C. Crosthwaite left tobacco giant Altria Group to take over Juul.

The White House is preparing to reveal details of a plan to halt sales of all fruity and minty e-cigarettes to curb teenage vaping.

Juul has been blamed for a rise in teenage vaping and is the target of several federal investigations.

Juul has 6 months to submit to the Food and Drug Administration products it wants to sell in the US.

Juul last year stopped selling sweet and fruity flavors in retail stores but sold them on its website until last month. Last week Juul stopped selling mint refill pods –70% of its US sales.

Comments

No comments on this item Please log in to comment by clicking here