Juul Moves Headquarters from San Francisco to Washington
Last November, the San Francisco-based manufacturer revealed plans to lay off about 500 employees by the end of 2019 as the newly appointed Juul CEO reviewed the company. The move came alongside plans to reduce Juul's marketing budget and invest heavily i
Last November, the San Francisco-based manufacturer revealed that, following a review by Juul’s newly appointed CEO, the company planned to cut around 500 jobs before the end of 2019.
The move came as part of plans to reduce Juul’s marketing budget and invest heavily in efforts to curb underage vaping. The layoffs affected multiple departments, and all employees received severance packages along with any prorated bonuses they were eligible for.
Later, as the company planned to relocate to the U.S. capital, it considered additional layoffs of up to 950 workers, as the pandemic brought multiple lawsuits, federal investigations, and declining sales. In fact, Juul’s valuation has fallen from $38 billion, set during its partnership with Altria, to $12 billion.
San Francisco Board of Supervisors calls the move a “small victory”
Meanwhile, the San Francisco Board of Supervisors believes Juul has contributed to nicotine addiction among many teenagers, and has therefore done its best to shut down the business. So it is no surprise that officials welcomed the relocation news and saw it as a victory for their city.
“It’s good to see people win over profits, even if this is only a small victory. We never wanted Juul in San Francisco,” said Supervisor Shamann Walton.
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