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... September 4, 2020. Share on Facebook. . Juul also laid off 650 employees last October, bringing the total number of employees cut to 1,550 employees in the past year. “No final decisions have been made and we will continue to go through our evaluation process,” a Juul spokesman said Thursday. Juul To Layoff More Than Half Of Its Workforce. Juul products are displayed at Smoke and Gift Shop on October 17, 2019 in San Francisco, California. NCWLIFE Evening News September 3rd, 2020. Juul could end sales in 11 countries including Italy, Germany, Russia, Indonesia and the Philippines, the paper said, noting the US, Canada and Britain accounted for 90 per cent of its sales in the first quarter. Juul is reportedly planning to lay off a third of its workforce amid a series of regulatory crackdowns that have stunted its growth, according to a new report. Gov. Do Not Sell My Personal Information, Your California Privacy Rights JUUL LABS WORKS WITH CHINESE LEGAL AUTHORITIES TO TAKE DOWN AND PROSECUTE ILLICIT CHINESE OPERATION SELLING COUNTERFEIT JUUL PRODUCTS. The move could limit its footprint to markets in the U.S., Canada and the U.K. Juul was valued it around $37 billion when Altria bought a 35% stake in late 2018. Terms of Use 1492. It announced another round of job cuts in April. By. E-cigarette maker Juul Labs said it was cutting jobs and possibly … Earlier this year, the e-cigarette maker laid off one third of its workers and halted sales of its vapes in some countries. Juul, which has become the face of the industry, faces an investigation from 39 state attorneys general probing whether the company advertised its products to minors. September 3, 2020 According to the Wall Street Journal, Juul is planning another large round of layoffs and even thinking about stopping sales overseas in Europe and asia. Can I tell my micromanaging boss to back off? JUUL products deliver an exceptional nicotine experience designed for adult smokers looking for an alternative to traditional cigarettes. And in April, federal antitrust regulators sued to posted September 03, 2020 at 12:00 pm by AFP Troubled e-cigarette maker Juul plans to pull out of Europe and Asia and lay off more workers after already shedding a third of its workforce, the Wall Street Journal said Wednesday. Companies have until May 2020 to seek FDA approval in order to sell e-cigarettes in the US. Juul has become an increasing issue for Altria, which has written down the investment twice. “Throughout this year and against a difficult external environment. 3,022, This story has been shared 1,902 times. Juul Labs is now valued at around $12 billion, per the Journal, and only about 400 more American employees are expected to be laid off in the latest cuts — … The reason given is the increasingly hostile regulatory environment regarding the crackdown on The Trump Administration banned mint and fruit-flavored vapes last year, and California this week went even further by banning menthol-flavored tobacco as well. The company pulled out of South Korea this year after it failed to gain traction amid government health warnings. Crosthwaite. Do Not Sell My Personal Information. The embattled vape company said cutting jobs will give it room to combat underage vaping. Good evening and welcome to the NCWLIFE Evening News. The world's top e-cigarette company is reportedly going to lay off more than half of its workers due to a massive sales plunge after regulations began to strangle the industry over the last year. At Juul, government affairs, corporate responsibility, and clinical and scientific affairs teams will now report to Chief Regulatory Officer Joe Murillo, the company said. Juul said it would make a “significant” cut to its global workforce and explore pulling out of some European and Asia-Pacific markets to save cash and weather a tumultuous period for the e-cigarette industry. Juul plans layoffs — up to 55% of its workforce, source says Juul announced plans to lay off more workers in a Wednesday email to employees. That could mean pulling out of as many as 11 countries and shrinking the company’s footprint to its core markets of the U.S., Canada and the U.K., according to a story in the Wall Street Journal. Layoff list Consumer, Juul, San Francisco. Juul on Tuesday announced an update to its major restructuring effort that includes layoffs and deep cost cutting. Our category has endured even tougher conditions and it has seemingly become even easier to sell combustible cigarettes than vapor products,” Juul said in the blog post. E-cigarette giant Juul is planning significant layoffs, the company said Thursday, as Juul sees its market share decline amid a crack down on vaping from U.S. regulators. JUUL allows you to personalize your experience, because every JUUL journey is unique. SEPTEMBER 5, 2020 — MORE REGULATIONS EQUAL MORE LAYOFFS The company has announced that it is preparing to execute another “significant round” of layoffs and considering stopping sales in Europe and Asia. 1 of 6. The company may reportedly pull its products from Asian and European markets to focus on the US, Canada and the UK. It didn’t say how many jobs it would cut. The Wall Street Journal reported Juul is looking to lay off more than half its workforce, whittling down its employees from 2,200 to 1,000—but the company hasn’t released details and only said it is “making a significant global reduction.”, Juul said it may also pull out of markets in Europe and Asia “that have not provided the kind of return necessary given the cost to continue investing in the market.”. 06/03/2020. As we continue our work to clear the market of illicit vapor products, Juul Labs is pleased to announce that a major manufacturer and international distributor of counterfeit JUUL devices and pods has been shut down … Thanks for contacting us. The e-cigarette giant is forcing out its top Europe and south Asia executives and laying off staff in Singapore as part of an effort to cut back $1 billion in spending in 2020. E-cigarette maker Juul plans layoffs, Europe and Asia exit says report. Crosthwaite last year at the height of mounting concerns around youth vaping. From 3,200 employees down to 1,000 employees in half a year. Uriah Darby - 09/03/2020. Juul plans more layoffs, market pullbacks September 4, 2020. Juul is reportedly laying off thousands of workers. The layoffs are part of “a necessary reset” at the company, according to its new CEO K.C. — Reuters pic . Cuomo reportedly reached under aide's blouse and groped her, 'RHONY's Ramona Singer accidentally leaks bank account statement, GameStop stock tumbles after wild six-day rally, Workers file 712,000 new jobless claims as COVID-19 recovery continues, Nike execs say ex-VP showed 'poor judgment' over son's sneaker business, Jennifer Garner finally gets her ears pierced at 48, ‘Sex’ star Cynthia Nixon spotted on $6M Tribeca house prowl, Demi Lovato wants to completely shave her head, © 2021 NYP Holdings, Inc. All Rights Reserved, partly owned by Marlboro maker Altria Group, increased regulatory scrutiny following a rise in teenage vaping, Why restaurant closures hit this NYC neighborhood the hardest, Water Street apartment tower, Seaport museum await ruling. Virgin Atlantic cuts 1,150 jobs amid $1.6B rescue plan, This story has been shared 3,337 times. San Francisco-based e-cigarette maker Juul – into which Marlboro-owner Altria plowed $12.8 billion in 2018 at the peak of the startup unicorn bubble – is planning to cut over half of its remaining 2,200 employees, after having already cut 1,000 employees in April. A spate of vaping-related illnesses last year, which were mostly linked to black market products, only further battered Juul’s image. The embattled vape company said cutting jobs will give it room to combat underage vaping. The 35% stake was valued at $4.2 billion in January. JUUL, a well-funded unicorn in the vaping space, is cutting 650 jobs according to the Wall Street Journal.The cuts are not a surprise. September 3, 2020; Juul Labs has said it is planning another significant round of layoffs and considering halting sales across Europe and Asia. E-cigarette giant Juul is planning significant layoffs, the company said Thursday, as Juul sees its market share decline amid a crack down on vaping from U.S. regulators. Juul on Tuesday announced an update to its major restructuring effort that includes layoffs and deep cost cutting. Your California Privacy Rights Image Credits: Scott Olson / Getty Images under a license. The embattled vape company said cutting jobs will give it … Coupang—The Amazon Of South Korea—Just Became The Largest Foreign IPO On Wall Street Since Alibaba. Morning Markets: Vaping unicorn JUUL is dealing with regulatory pressure, competition, and bad press.The result? Im Jahr 2020 wurde bekannt, dass Juul den deutschen Markt wieder aufgeben will. by Wolf Richter • Sep 3, 2020 • 62 Comments. Altria’s 35 percent stake in Juul, valued at $12.8 billion in December 2018, dwindled to about $4.2 billion at the end of last year. William Sprouse. Share: After laying off around a third of its workforce earlier this year, e-cigarette maker Juul is planning additional layoffs and could exit nearly a dozen countries, according to The Wall Street Journal. The changes come after Juul replaced its CEO with ex-Altria executive K.C. Juul Labs Inc. is preparing to cut 25% to 40% of its workforce, according to a person familiar with the matter, in the latest round of layoff s at the e … Juul, a maker of e-cigarettes, laid off 900 employees (30%) last month in a move unrelated to the coronavirus. San Francisco Bay Area ∙ 1,550 employees ∙ All departments. Juul is set to eliminate between 800 to … Hayley Peterson. Juul CEO addresses report on impending mass layoffs in leaked memo. It didn’t say how many jobs it would cut. September 4, 2020. Privacy Notice Signs Transgender Sports Ban Into Law—South Dakota, Tennessee May Soon Follow, 8 House Republicans Break With Party To Back Expanded Gun Background Checks, Miami Heat's Meyers Leonard Fined $50,000 And Suspended For Anti-Semitic Comment, Eddie Huang Talks Culture And Craft In New Film Boogie, New Study Shows That Hollywood Could Be Losing $10 Billion Annually From Black Inequity, Zack Snyder, HBO Max To Host Live Watch Party Online For ‘Justice League’ Recut. Juul, a maker of e-cigarettes, laid off 900 employees (30%) last month in a move unrelated to the coronavirus. New York, United States / Thu, September 3, 2020 / 12:45 pm Juul brand vape cartridges are pictured for sale at a shop in Atlanta, Georgia, US, on September 26, 2019.Troubled e … Image: Stephanie Keith (Getty Images) As Juul attempts to steady its beleaguered business in the wake of regulatory crackdowns and multiple investigations into its products and marketing tactics, the company is preparing for more layoffs and may ultimately pull out of some overseas markets. September 4, 2020 | 1:11pm | Updated September 4, 2020 | 2:39pm. October 30, 2020. Prince Harry inherited over $13M from Diana, Elderly woman may have been dead 12 years before body found in home, Royal experts explain why Meghan Markle had to give up passport, keys, Gov. It makes the Juul e-cigarette, which packages nicotine salts from leaf tobacco into one-time use cartridges.. Juul Labs was co-founded by Adam Bowen and James Monsees. Juul already laid off 1,000 employees earlier this year, discontinued advertising and announced plans to pull out of South Korea, Austria, Belgium, Portugal and Spain. Lawmakers have been targeting the e-cigarette industry over the past few years in response to a rapid increase in teen vaping. NEW YORK: Troubled e-cigarette maker Juul plans to pull out of Europe and Asia and lay off more workers after already shedding a third of its workforce, the Wall Street Journal said Wednesday. The company said it planned to lay off 650 employees, mostly in the marketing department. Post was not sent - check your email addresses! I’m a San Francisco-based reporter covering breaking news at Forbes. Thursday, 03 Sep 2020 01:09 PM MYT. . Your Ad Choices Juul said some European and Asia-Pacific markets had not provided enough return to justify additional investments. Enlarge Image. “It has seemingly become even easier to sell combustible cigarettes than vapor products,” Juul said in a blog post. Companies have until May 2020 to seek FDA approval in order to sell e-cigarettes in the US. Updated: 2:14 PM PDT September 2, 2020 OLYMPIA, Wash. — Washington Attorney General Bob Ferguson filed a consumer protection lawsuit on Wednesday against e-cigarette company JUUL. Die Ablösung von CEO Kevin … A week after we learned of layoffs at Juul Labs that were set to slash nearly a third of the company's workforce, ... And by late September, ... 2020. September 4, 2020 Juul to Cut More Jobs The e-cigarette maker said it will make a "significant global reduction" and exit multiple markets as part of a long-term strategy. The company has been mired in controversy over its role in the rise of underage vaping. . In addition to … 2020-04-29T17:50:00Z The letter F. An envelope. Juul Labs, Inc. (/ ˈ dʒ uː l /, stylized as JUUL Labs) is an American electronic cigarette company which spun off from Pax Labs in 2017. E-cigarette maker Juul plans layoffs, Europe and Asia exit: report posted September 03, 2020 at 12:00 pm by AFP Troubled e-cigarette maker Juul plans to pull out of Europe and Asia and lay off more workers after already shedding a third of its workforce, the Wall Street Journal said Wednesday.