00:00British American Tobacco, BAT, the London-listed maker of Lucky Strike and Dunhill, said on Monday that it will cut
00:085,500 jobs worldwide.
00:11The company is reportedly aiming to save some 695 million euros a year by 2028.
00:18BAT also said the overhaul would also see around 3,500 positions outsourced to third parties with the two measures
00:28together, touching roughly 9,000 staff, close to a fifth of its 47,000 workers.
00:36The restructuring reaches across BAT's operations worldwide but spares the U.S., its single largest market.
00:44Like its rivals, BAT is grappling with a steady decline of traditional smoking in its established market as health concerns
00:52and tighter regulation reduce the number of cigarette buyers.
00:57The company has pinned its future on what it calls, quote, smokeless products and has set itself a target of
01:04drawing half its revenue from this new alliance by 2035.
01:08However, that transition has not been smooth. Earlier this year, BAT said it was planning savings to make it, quote,
01:16more digital and AI focused.
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