British American Tobacco to Lay Off 2,300 Employees by 2020
12 Settembre 2019 - 08:47AM
Dow Jones News
By Carlo Martuscelli
British American Tobacco PLC (BATS.LN) said Thursday that it
expects wide-ranging layoffs aiming at streamlining the
organization, with some 2,300 roles cut by the beginning of next
year.
The FTSE 100-listed cigarette-maker said the move aims to create
fewer, but more accountable, business units and avoid duplication.
More than 20% senior roles in the organization are expected to be
affected, it said.
"This will ensure the company is better placed to meet ever
evolving consumer needs and deliver savings that can be reinvested
in the growth of its portfolio of new categories such as vapor,
tobacco heating products and oral tobacco," the owner of the Lucky
Strike and Pall Mall brands said.
Chief Executive Jack Bowles said the job cuts will better place
the company to deliver on its 5 billion-pound ($6.2 billion)
revenue target for its new categories division--which includes
vaping and tobacco-heating products--by 2023-24.
Write to Carlo Martuscelli at carlo.martuscelli@dowjones.com
(END) Dow Jones Newswires
September 12, 2019 02:32 ET (06:32 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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