British American Tobacco announced Monday sweeping job cuts as the cigarette maker axes 5,500 roles globally and outsources another 3,500 to help slash costs.
The maker of Lucky Strike and Dunhill cigarettes aims to save £600 million ($792 million) a year by 2028 in a restructuring that will affect around 20 percent of BAT’s 47,000-member workforce, it said in a statement.
BAT, along with other tobacco majors, faces declining demand for traditional cigarettes, and is turning its focus instead to newer categories including vapes and oral nicotine products.
“We are building a future-ready organisation that is more agile, cost disciplined and technology enabled,” said chief executive Tadeu Marroco.
“These changes affect many of our colleagues, and we are focused on supporting them through this transition with care and respect, as we position the business for the future,” he added. Related News Ikeja Electric appoints new Acting CEO Manufacturing credit drops N1.92tn amid funding gaps Manufacturers remit record N330bn VAT in three months
