BAT to Cut 5,500 Jobs, Outsource 3,500 Roles in Global Restructuring

Corporate Action

โดย GuruFocus·Read original

Summary · why it matters

British American Tobacco is cutting 5,500 jobs and outsourcing another 3,500 roles by the end of this year, equal to about one-fifth of its 47,000-person global workforce, as part of a plan to deliver 600 million in annual cost savings by the end of 2028. The figures do not include BAT's US business, which operates through Reynolds American. Certain roles in the UK, Singapore, Costa Rica, Mexico, Poland, Romania and Malaysia have moved to Accenture, while some roles in Pakistan have been outsourced to Systems Ltd. The restructuring comes as BAT faces weaker demand for traditional cigarettes and invests more heavily in smoke-free products like Vuse vapes and Velo nicotine pouches, aiming for more than half of revenue to come from these alternatives.