Categories
· Business (Tobacco)
non-USA, by Country
· Europe
Organizations
· ITY
· Altadis
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Jump to full article: Bloomberg News, 2008-06-19
Author: Thomas Mulier
Intro: Imperial Tobacco Group Plc, Europe's second-largest publicly traded cigarette maker, plans to cut 2,440 European jobs after buying Altadis SA for 12.6 billion euros ($20 billion) earlier this year.
Six of its 58 factories will shut as its payroll falls by about 6 percent, the Bristol, England-based company said today in a statement. The plants slated for closing are located in Spain, France, Germany, Slovakia and Imperial's hometown.
Western European tobacco companies have eliminated jobs and shut factories in the face of government restrictions on smoking and bans on advertisements that have cut into cigarette sales. The takeover of Altadis, the Madrid-based maker of Gauloises cigarettes and Don Diego cigars, added about 27,000 employees to Imperial's work force.
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