“(Reuters) – Cigarette maker Reynolds American Inc said it will reduce its U.S. workforce by 10 percent by the end of 2014, as it looks to cut costs to sustain profit growth.
Reynolds American, which makes Camel and Pall Mall branded cigarettes, expects to incur a pretax restructuring charge of about $110 million related to the job cuts in the first quarter.
By the end of this year, the company expects savings of $25 million from the move, an amount that will increase to about $70 million annually from 2015….”
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