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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  British American Tobacco Plc    BATS   GB0002875804

BRITISH AMERICAN TOBACCO PLC

(BATS)
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British American Tobacco : to Lay Off 2,300 Employees by 2020

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09/12/2019 | 02:33am EDT

By Carlo Martuscelli

British American Tobacco PLC (BATS.LN) said Thursday that it expects wide-ranging layoffs aiming at streamlining the organization, with some 2,300 roles cut by the beginning of next year.

The FTSE 100-listed cigarette-maker said the move aims to create fewer, but more accountable, business units and avoid duplication. More than 20% senior roles in the organization are expected to be affected, it said.

"This will ensure the company is better placed to meet ever evolving consumer needs and deliver savings that can be reinvested in the growth of its portfolio of new categories such as vapor, tobacco heating products and oral tobacco," the owner of the Lucky Strike and Pall Mall brands said.

Chief Executive Jack Bowles said the job cuts will better place the company to deliver on its 5 billion-pound ($6.2 billion) revenue target for its new categories division--which includes vaping and tobacco-heating products--by 2023-24.

Write to Carlo Martuscelli at carlo.martuscelli@dowjones.com

Stocks mentioned in the article
ChangeLast1st jan.
BRITISH AMERICAN TOBACCO PLC -3.35% 2970 Delayed Quote.18.80%
FTSE 100 INDEX 0.28% 7234.11 End-of-day quote.0.00%
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Financials (GBP)
Sales 2019 25 977 M
EBIT 2019 11 157 M
Net income 2019 6 765 M
Debt 2019 42 891 M
Yield 2019 7,12%
P/E ratio 2019 9,91x
P/E ratio 2020 8,67x
EV / Sales2019 4,27x
EV / Sales2020 3,95x
Capitalization 67 902 M
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Technical analysis trends BRITISH AMERICAN TOBACCO P
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TrendsBullishNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 21
Average target price 3 597,53  GBp
Last Close Price 2 970,00  GBp
Spread / Highest target 65,0%
Spread / Average Target 21,1%
Spread / Lowest Target -25,2%
EPS Revisions
Managers
NameTitle
Nicandro Durante Chief Executive Officer & Executive Director
Jack Marie Henry David Bowles Chief Executive Officer-Designate & Director
Richard George William Burrows Chairman
Alan Davy Director-Group Operations
John Benedict Stevens Executive Director & Finance Director
Sector and Competitors
1st jan.Capitalization (M$)
BRITISH AMERICAN TOBACCO PLC18.80%84 546
PHILIP MORRIS INTERNATIONAL9.42%113 654
ALTRIA GROUP-14.94%78 479
ITC-14.52%41 524
JAPAN TOBACCO INC-8.61%38 491
IMPERIAL BRANDS-8.44%25 591