Embattled vaping company Juul Labs announced hundreds of layoffs as the company weathers lawsuits, government bans and increasing competition for its electronic cigarettes.
The Wall Street Journal first reported the news Thursday morning.
The backlash against teen vaping triggered a series of government actions that have forced the company into retreat. Since 2019, Juul has dropped all U.S. advertising and discontinued most of its flavors.Food and Drug Administration rejected the company’s application to keep its product on the market
Another setback came in September when the company’s largest investor, tobacco giant Altria, announced plans to resume competing on its own in the e-cigarette space.Altria pulled its own e-cigarettes off the market in 2018 after taking a nearly $13 billion stake in Juul. But thatas Juul’s prospects have dimmed, giving Altria the option to exit its non-compete agreement.
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