BAT to cut 2,300 jobs as it moves to ‘new category’ business

  • 📰 BDliveSA
  • ⏱ Reading Time:
  • 37 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 18%
  • Publisher: 63%

United States News News

United States United States Latest News,United States United States Headlines

More than 20% of senior roles will be affected as vaping and e-cigarettes — under fire due to health concerns — are seen as creating more growth

British American Tobacco said on Thursday that it will lay off 2,300 employees globally by January, about 4% of its workforce, as the world’s second largest tobacco company by sales focuses on newer smoking options such as e-cigarettes.

The company has said it will invest in what it calls its “new category” business under CEO Jack Bowles and has announced plans to consolidate the portfolio. The division makes tobacco heating products glo and Vype e-cigarettes, as well as snuff and nicotine pouches. BAT expanded by buying US rival Reynolds American for $49bn in 2017. The company said the planned changes would help the firm deliver on its target of generating £5bn of revenue in new categories by 2023/2024.

This month, BAT said it would launch two new tobacco heating products in Japan under its glo brand. It is also seeking to close the gap with market leader Philip Morris International in the US’s fast-growing vaping industry.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 12. in US
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Motor industry set to create 16,000 new jobsA potential R60bn could be invested by SA’s vehicle manufacturers and component makers in next five years
Source: BDliveSA - 🏆 12. / 63 Read more »