Altria to Cut Cigarette Workforce
Publish Date:
November 3, 2011
In a move attributed to cigarette volume declines following the 158% increase in federal excise taxes in April 2009, Altria Group Inc. announced that it will be cutting its cigarette-related salaried workforce. During a third-quarter earnings call last Thursday morning, Mike Szymanczyk, chairman and CEO, said the company plans a $400-million cost-reduction program in its cigarette infrastructure.
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