© Reuters. FILE PHOTO: Juul brand vape cartridges are pictured for sale at a shop in Atlanta, Georgia, U.S., September 26, 2019. REUTERS/Elijah Nouvelage//File Photo
(Reuters) – Juul Labs is planning to lay off 30% of its workforce as it looks to cut costs, the Wall Street Journal reported on Wednesday.
The company plans to lay off about 250 people in its latest round of cuts, reducing its workforce to around 650, the report said.
The cuts will reduce operating expenses by $225 million, WSJ reported, citing a company spokesperson.
Juul did not immediately respond to a request for comment.
