San Francisco Unicorn Juul to Lay Off Over Half its Remaining Staff: Altria’s $12.8 Billion Go to Heck, But Not in a Straight Line

by Wolf Richter
Wolf Street

From 3,200 employees down to 1,000 employees in half a year.

San Francisco-based e-cigarette maker Juul – into which Marlboro-owner Altria plowed $12.8 billion in 2018 at the peak of the startup unicorn bubble – is planning to cut over half of its remaining 2,200 employees, after having already cut 1,000 employees in April. This will shave them down from 3,200 folks earlier this year to about 1,000 folks when everything is said and done.

It is also considering ending sales in Europe and Asia, and focusing instead on the US, Canada, and the UK, where 90% of its sales are concentrated, sources told the Wall Street Journal.

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