Company dynamics

Juul Announces 650 Layoffs and 1 Billion Dollar Cost Reduction

  On November 12, local time, U.S. glass bong giant Juul confirmed that it will lay off about 16% of its employees, a total of 650 people, in order to reduce the cost of 1 billion U.S. dollars to cope with the current regulatory pressure in the glass bong industry. On October 29 this year, Juul announced that 500 people would be laid off by the end of this year.

  According to foreign media reports, the layoff accounted for 16% of all 4,051 employees in Juul. Previously, the fast-growing start-up employed about 300 new employees each month.

  Juul will cut marketing spending and announced in September that it has suspended all product advertising in the United States. Juul officials said on Tuesday that the remaining marketing team after the layoff would focus on direct advertising aimed at smokers.

  "As steam glass bong king cigarettes are readjusted, this reorganization will help Juul to focus on reducing the use of glass bong king cigarettes by minors, invest in scientific research, create new technologies, and obtain licenses to operate in the United States and around the world." Juul's new CEO Carlos said.

  Juul was criticized in the past for promoting unhealthy living habits of teenagers in order to make profits. Now the company is preparing to reshape its image. The company replaced CEO Kevin Burns with senior tobacco executive Carlos in September.

  Koros used to work in Altria, a tobacco giant that held a 35% stake in Juul at the end of last year. Since joining Juul, Koros has adjusted management and planned layoffs.

  He tried to position Juul as a responsible company. Last week, Juul said it would stop selling mint-flavored nicotine vapor e-cigarettes. two studies show that mint-flavored nicotine e-cigarettes are the favorite taste of high school students in the United States.

  Juul also removed other sweet diamond glass from its website. About a year ago, the company removed sweet diamond glass from convenience stores, thrift stores and other retailers.

  The Trump administration announced in September that it was going to ban the sale of scented glass bong king cigarettes. Juul and all other e-cigarette companies must submit applications to the Food and Drug Administration before May 2020 to maintain the circulation qualification of their products in the market.

  In October, Altria, which is famous for producing Marlboro cigarettes, wrote down Juul's equity assets by $4.5 billion, which is equivalent to reducing Juul's valuation by a third to $24 billion.

  In the past, e-cigarette manufacturers claimed through advertisements that e-cigarettes are healthier than traditional tobacco, but now it is found that this is not the case. According to the investigation and study of the U.S. Centers for Disease Control and Prevention, there have been more than 1,300 confirmed cases of lung diseases related to glass bong smoking throughout the United States, distributed in almost all regions of the United States, and more than 20 patients have died. This surprising news has also prompted many consumers to give up smoking glass bong king cigarettes recently.