The Strategist

Juul may leave European and Asian markets


09/04/2020 - 03:10



E-cigarette maker Juul intends to continue to lay off staff and is considering withdrawing from the European and Asian markets, The Wall Street Journal reported.



Roger A Smith
Roger A Smith
In total, the products of the American company may disappear from store shelves in 11 countries.

Faced with criticism from the authorities and falling sales, the company announced in the spring that it was laying off about a third of its employees worldwide. In addition, Juul was forced to leave the markets of South Korea, Austria, Belgium, Spain and Portugal. 

Now, according to Juul CEO Kevin Crosthwaite’s letter from employees, the company intends to implement another wave of cuts to channel the freed up funds into new product development, technology and new research that will help the e-cigarette maker prove to regulators that its products are less harmful than cigarettes. 

At the same time, Mr. Crosthwaite did not specify exactly how many people are planned to be laid off. The company may leave such countries as Russia, Germany, Italy, Indonesia and the Philippines.

source: wsj.com