(Reuters) – Juul Labs Inc is planning to cut around a third of its staff as the e-cigarette maker faces a relentless series of regulatory headaches and falling market share, the Wall Street Journal reported on Wednesday.
The cuts, which translate into between 800 and 950 people, are part of a broader restructuring plan and are not related to the novel coronavirus pandemic, the Journal reported citing a person familiar with the matter.
Juul did not immediately respond to Reuters request for comment.
Last November, a company official told Reuters said Juul would cut around 650 jobs, or 16%, of its then 4,051 strong workforce as part of Chief Executive Officer K.C. Crosthwaite’s turnaround plan.
(Reporting by Uday Sampath in Bengaluru; Editing by Shailesh Kuber)