Tobacco and nicotine products seller British American Tobacco p.l.c. (BTI) has announced that it will cut 20% of its workforce, cutting about 5,500 jobs and moving approximately 3,500 roles to third-party firms. Affecting about 9,000 employees in total, the move is to pursue an AI-driven restructuring to reduce costs and boost profits.
However, these cuts do not affect the U.S., which is the company’s largest market. On the other hand, regulatory risks might be just around the corner. The Food and Drug Administration (FDA) has proposed a rule that would require foreign tobacco product makers to register their facilities and list products sold in the country. That would mean players like BTI would have to provide identifying details for each tobacco product, including nicotine strength, nicotine source, flavors, package type, and product dimensions.
