Juul Labs Inc. is planning to make more changes, laying off yet more staff and potentially halting sales across Europe and Asia, reports Market Watch.
The e-cigarette maker has already cut 3,000 jobs this year and stopped sales of its products in several countries. The news that more layoffs may be on the cards as well as shutting down sales in Europe and Asia indicates that going forward, Juul may very well be focusing only on its core markets in the US, Canada and the UK.
According to Market Watch, Chief Executive K.C. Crosthwaite told employees that the business units under review were not generating enough revenue and that the cuts would allow the company to invest in the development of new products and scientific research.
Once a fast-growing company, Juul found itself at the centre of a debate regarding the surge in teen vaping in the US and was largely blamed by regulators and parents for purposefully marketing its products to young adults. As Juul faced regulatory crackdowns and was forced to make changes, sales began to fall with Reynolds American Inc.’s Vuse e-cigarette taking over a large portion of the market share.