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Home > What's New > Imperial Tobacco Cutting Nearly 2,500 Jobs
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Imperial Tobacco Cutting Nearly 2,500 Jobs
Posted: Thursday, June 19, 2008
By Gregory Mottola
Imperial Tobacco head Gareth Davis announced the job cuts today.
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Imperial Tobacco Group PLC, the world's fourth largest tobacco company, announced today that it will cut approximately 2,440 jobs from its workforce of 40,000 and also plans to close 6 of its 58 manufacturing facilities as part of a massive reorganization campaign.
Earlier this year, Imperial Tobacco acquired Altadis S.A., the world's largest cigar company and half owner of Habanos S.A., the worldwide distributor for Cuban cigars.
"The projects are a necessary step in the process of integrating Imperial Tobacco and Altadis," said chief executive Gareth Davis in a press release, "and will ensure that we create a strong and sustainable future for the enlarged Group."
According to the press release, France will suffer the majority of the cuts with approximately 1,060 job losses. Imperial will also scale back 830 positions in Spain, 260 in the United Kingdom, 250 in Germany, 100 in Russia and 140 in other countries. However, the restructuring effort is projected to create 200 new jobs in Poland.
The Bristol cigar factory in England will be shut down and relocated, as will factories in France, Germany and Spain.
Imperial's international restructuring does not appear to have affected the U.S. cigar market. Altadis U.S.A., which owns the U.S. trademarks for Cuban cigar brands such as Montecristo, Romeo y Julieta and H. Upmann, made no announcements concerning the job cuts, nor was the U.S. market mentioned in Imperial's announcement.
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