This morning, the Wall Street Journal is reporting that Juul Labs ($PRIVATE:JUUL), makers of e-cigarettes that have come under heavy scrutiny by politicians and health authorities, plans to cut 500 jobs by the end of the year.
But ahead of those cuts, the company has slowed hiring to near lowest levels after a period of massive growth.
As of October 24, the number of openings listed on Juul's recruiting websites dropped to 257. That's down from a high of 685 in August, and down from 434 openings just two weeks ago.
Juul says that the cuts are "part of a broad review of the company's practices and policies by its CEO K.C. Crosthwaite.
While the upcoming cuts represent an estimated 10% of the company, workforce growth has already slowed quart-over-quarter.
This quarter represents the company's slowest growth rate yet, and already points to contraction as layoffs loom.
Job losses aside, Juul continues to be distributed at more than 50,000 outlets throughout North America, and there no signs of that changing until laws force the issue.
About the Data:
Thinknum tracks companies using the information they post online - jobs, social and web traffic, product sales and app ratings - and creates data sets that measure factors like hiring, revenue and foot traffic. Data sets may not be fully comprehensive (they only account for what is available on the web), but they can be used to gauge performance factors like staffing and sales.
Further Reading:
- Tides turn on e-cigarettes: Juul hiring down 37% and workforce growth stalls
- How big will JUUL labs get? Hiring up 200%, workforce up 400% in less than a year
- Juul data is smoking hot - but the e-cig maker may be facing new challenges