WASHINGTON (dpa-AFX) - Juul Labs Inc. plans to cut about 500 jobs by the end of the year as part of a broader reorganization plan, according to the reports citing people familiar with the matter. The Jobs cuts will represent about 10% to 15% of the company's workforce.
'As the vapor category undergoes a necessary reset, 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 U.S. and around the world,' CEO K.C. Crosthwaite reported said.
San Francisco-based e-cigarette maker plans to downsize as part of a 'necessary reset' as the company faces increased scrutiny from regulators amid a spate of vaping-related illnesses.
The company suspended sales of all fruity flavors earlier this month, ahead of the Trump administration's expected removal of all flavored e-cigarettes from the market.
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