Juul is laying off 650 people in a $1 billion cost-cutting plan

Much of the $1 billion in cuts Juul hopes to make will hit the company's marketing department. Juul has agreed to pause its marketing effort as regulators claim the company was trying to push its products on teens.Juul said it would cut 650 jobs and phase out the position of chief marketing officer. In October, it said it would cut about 500 jobs. The 650 job cuts represent about 16% of Juul's global workforce.

Crosthwaite issued that same statement last month when he announced the departure of four executives, including the chief marketing officer, chief financial officer, senior vice president of advanced technologies and chief administrative officer.Altria , which invested $12.8 billion for a 35% stake in Juul in 2018, hasn't seen its returns flourish. The Marlboro-owner recently announced it was taking a $4.5 billion writedown on its investment in Juul.

Greattweet, CNN! Welldone! 👍👍🏆🌈

Something must give way. Lower revenue must be matched with cut in cost. Juul will need to innovate.

Thought trump was the zero regulation, screw the system, profit over life capitalists.... won't he offer juul a pardon ... or does big tobacco & smoking cessation pharma 'pay' more? realDonaldTrump

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