British American Tobacco to cut 2,300 jobs by Jan 2020
(Reuters) – British American Tobacco Plc (BATS.L) said on Thursday it would lay off 2,300 employees globally by January as the world’s second largest tobacco company by sales looks to streamline its operations.
The company said the move would impact over 20% of its senior roles as it takes steps to eliminate duplicate roles in its aim to create fewer but larger business units among other things.
“My goal is to oversee a step change in New Category growth and significantly simplify our current ways of working and business processes,” Chief Executive Officer Jack Bowles said in a statement.
The “New Category” business includes brands like vuse for e-cigarettes, velo – a nicotine pouch for the gums and glo for tobacco heating devices.
Reporting by Pushkala Aripaka in Bengaluru; editing by Arun Koyyur