New York (CNN Business) Embattled e-cigarette maker Juul Labs is laying off additional employees and considering pulling out of some international markets as part of what has become a year-long effort to turn its business around . The Wall Street Journal reported that the company aims to cut around 1,200 workers, citing people familiar with the matter. "No final decisions have been made and we will continue to go through our evaluation process," a Juul spokesperson said in a statement to CNN Business. In December 2018, Altria bought a 35% stake in Juul in a deal that valued it around $37 billion. But Juul's value deteriorated as concerns mounted about the health risks of vaping and US regulators pushed for a crackdown on e-cigarettes.

Source: CNN September 03, 2020 23:15 UTC