Imperial Brands to cut thousands of jobs in U.S. and Europe

Imperial Brands is planning to cut thousands of jobs across key markets, including the United States and Europe, as part of a cost-reduction strategy. The company’s shares fell 5.3% following reports of the planned layoffs.

The restructuring will occur in two phases. The first phase targets human resources, finance, procurement, and supply chain staff within ITG Brands, a unit covering the U.S., Puerto Rico, and the Dominican Republic. The second phase will affect legal, marketing, and intelligence teams, with notifications expected in April and cuts beginning mid-year.

Some roles within ITG Brands are expected to be outsourced to Capgemini SE by the end of the year. A company spokesperson stated that these changes will impact their global market footprint, though specific numbers of affected employees were not provided. The move comes as the tobacco industry faces regulatory challenges and a decline in traditional cigarette consumption.