Tobacco Giant to Slash Work Force

Source from:  cnn.com June 19, 2008 06/20/2008

Imperial Tobacco Group says it plans to slash its work force by around 6 percent as part of its restructuring plans after its recent takeover of Spanish rival Altadis SA. Imperial, Europe's second largest tobacco company, says it will close six of its 58 factories around the world and "reorganize operations at a number of other sites." The maker of brands including Lambert & Butler, West and Gauloises said the plans are an attempt to address over capacity and improve efficiencies in a "challenging and highly regulated operating environment." Imperial said the restructure would potentially reduce the number of jobs at the enlarged company by around 2,440 from the current 40,000. In Britain, where the company employs 1,700 people, Imperial will shut its historic Bristol cigar factory and restructure its Nottingham plant resulting in a total loss of 260 jobs. Enditem