British American Tobacco Lays 2,300 Employees Off

Yesterday, the Tobacco giant British American Tobacco announced that it will lay off 2,300 employees globally by January, Reuters reported.

The company, which is the second-largest tobacco producer in the world, said the cuts would affect more than 20 percent of high-ranking positions against the backdrop of its efforts to eliminate duplicate functions. The Group has set itself the goal of optimizing its operations, including by creating fewer but larger divisions.

The company has 55,000 employees in its branches worldwide, and has operated in Bulgaria since 2007 and has about 40% market share, being one of the largest taxpayers and employing around 250 people in the country.