R.J. Reynolds Tobacco Co., the producers of Camel cigarettes, is offering buyouts to roughly1,800 workers at its North Carolina headquarters as a cost cutting measure.
The company has yet to release the exact number of jobs it hopes to cut but it could be implied that the reason is the attempted acquisition of a Swedish anti-smoking product maker.
Tax increases, health concerns, smoking bans and a growing stigma associated with smoking inspired the purchase of the anti-smoking company and made cost cutting a necessitate for the company.
Productivity improvements are needed all around according to Jan Smith with an exact plan pending on them number of individuals who opt to take the buyout, which includes severance pay.
11 percent fewer cigarettes were shipped for the third quarter with an estimated company decline of 12.6 percent according to Reynolds American Inc.
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