Imperial Brands To Cut Thousands Of Jobs In US And Europe, Bloomberg News Reports | ESM Magazine
Britain'sImperial Brandsis preparing to cut thousands of jobs in key markets, including the United States and Europe, to reduce costs,Bloomberg Newsreported citing people familiar with the matter. Shares of. . .
Britain'sImperial Brandsis preparing to cut thousands of jobs in key markets, including the United States and Europe, to reduce costs,Bloomberg Newsreported citing people familiar with the matter. Shares of thetobaccofirm fell 5. 3% to 2,643 pence by 14:24 GMT on Monday (10 August). The first phase oflayoffswill affect staff working human resources, finance and procurement and supply chain at the company's unit ITG Brands, which covers the US, the Dominican Republic and Puerto Rico, the report said. The second phase will target the unit's legal, marketing, and insights and intelligence teams, with affected employees scheduled to be notified in April and cuts to begin mid-year, according toBloomberg. "Over time, the changes we are making will have an impact across our global market footprint," a company spokesperson said in a statement without providing details on the number of jobs affected. High CostsThe Winston cigarette maker warned of higher costs stemming from the Iran war in May, as the whole tobacco industry suffers from a terminal decline in traditional cigarettes and mounting regulatory challenges. Imperial Brands, which employed about 25,800 staff globally at the end of 2025, did not immediately respond to a Reuters request for comment. Some ITG Brand roles will be outsourced to the company's strategic partner Capgemini SE before the year-end, theBloombergreported. The company has also been in contact with relevant bodies in theEuropean Unionabout planned redundancies, which are subject to consultation, the report added. In April of this year, Imperial Brands forecast itsfirst-half adjusted operating profit would be slightly higheryear-on-year and maintained its annual targets, but said the impact of the Middle Eastern conflict could disrupt second-half performance.