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E-cigarette maker Juul Labs says they are planning to make a significant "reduction in force" as it looks to the future.The company announced the move in a statement as it also looks to pull out of some international markets as they "have not provided the kind of return necessary given the cost to continue investing in the market."According to the Wall Street Journal, the company is reportedly looking to lay off about 1,200 employees, nearly half its workforce. Earlier this year, the company laid off 1,000 employees, Forbes reported.Last year, at least four lawsuits were filed against the company claiming its ads were targeting young people.They also stopped selling several flavored products in the United States last year.The company also replaced its CEO last year.The company said they are looking to rebuild trust with its key stakeholders and the public."To better serve our mission, we must prioritize how we use our resources to execute on our long-term, focused approach," the company said in a statement. "This will allow Juul Labs to continue to invest in science and evidence capabilities, access control technologies, and future products in core markets that make up a vast majority of our business. While those investments will not provide short-term revenue, they will help us earn trust and build a company for the long term to advance the potential for harm reduction for adult smokers and combat underage usage." 1446

Eating more chocolate as the pandemic stretches on? You’re not alone. Sales data during the coronavirus pandemic has shown people are buying more snacks and sweet treats. The trend is continuing and appears to be skewing toward chocolate.Americans are favoring chocolate over other kinds of candy according to data from the National Confectioners Association. Looking at sales from mid-March through early August, all candy sales are up 3.8 percent during this time period. Chocolate sales are up 5.5 percent, and premium chocolate sales are up 12.5 percent.“Consumers appreciate and value chocolate and candy during these uncertain times because of their uncanny ability to boost moods and lighten perspectives, according to new data from NCA,” the organization said in their press release.The trade organization representing the candy industry found that sales of sweet treats at grocery stores have grown by double-digits. Sales of candy in grocery stores have increased 16.6 percent during the pandemic, chocolate sales alone have increased 17.9 percent. Premium chocolate sales at grocery stores have increased 21.4 percent. 1137

Disney is allowing guests at Magic Kingdom to wear Halloween costumes for the first time during normal park hours.The park recently announced in a blog post that guests of all ages can wear costumes from Sept. 15 to Oct. 31.In June, the park canceled its annual Mickey's Not-So-Scary Halloween Party because of the coronavirus pandemic.But this year, guests would be able to get into the Halloween spirit with costumes, themed foods, and merchandise, the park said.According to the park's website, costumes cannot contain sharp objects, they must be family-friendly, they can't have weapons, and anyone over the age of 14 cannot wear a mask with their outfit.Guests under the age of 13 can wear a mask, but it cannot cover the entire face, and their eyes must be visible.The park said costumes that "reach or drag on the ground" such as "full-length princess dresses" are not allowed.The park also added that all guests must still wear a face-covering while at the park. 978

Don't blame Amazon for the death of Toys "R" Us.It's true, online shopping didn't help matters, but the struggles of Toys "R" Us predate the boom in online shopping. Many of its wounds were self-inflicted.The company's biggest problem: It was saddled with billions of dollars in debt. That debt stopped it from making the necessary investment in stores. And that meant an unpleasant shopping experience that doomed the chain. The company told employees Wednesday that it would close or sell its US stores after 70 years in business."If you're going to have that breadth of inventory, you need someone in the store to help you find it, help you experience it," said Greg Portell, lead partner at retail consultant A.T. Kearney. "It's hard to sell toys in a cold, warehouse environment."Even Toys "R" Us CEO David Brandon conceded in an SEC filing last fall that the company had fallen behind competitors "on various fronts, including with regard to general upkeep and the condition of our stores."Toys "R" Us' debt problems date back to well before Amazon was a major threat. Its debt was downgraded to junk bond status in January of 2005, at a time when Amazon's sales were just 4% of their current level.A year later the company was taken private by KKR, Bain Capital and real estate firm Vornado. The .6 billion purchase left it with .3 billion in debt secured by its assets and it never really recovered.The toy store faced several other big challenges at about the same time. There was the rise of big box retailers like Walmart, which now dwarfs Toys "R" Us in total toy sales. Last year toymakers Mattel and Hasbro each sold about billion worth of their toys at Walmart, more than twice as much as what they sold through Toys "R" Us. Target sold just about as many of their as Toys "R" Us last year.And like most retailers, Toys R Us also lost sales to online rivals such as Amazon that offered lower prices and quick shipping.But much of the chain's resources were devoted to paying off that massive debt load rather than staying competitive.When Toys "R" Us filed for bankruptcy in September 2017, it disclosed it had about billion in debt and was spending about 0 million a year just to service that debt.That burden crowded out critical strategic priorities, like making its stores a nice place to shop and paying employees.Tell us: How will you remember Toys 'R' Us?Brandon said in a filing last fall that the bankruptcy process would allow it to invest million in its stores. The company hoped to add playrooms where kids could try out toys and spaces for birthday parties, but it never got the chance.Brandon also vowed to spend more money on staff. With extremely low unemployment, competitors like Walmart are raising wages, while Toys 'R' Us was having trouble attracting the kind of help it needed. It said last fall it would spend million from 2018 to 2021 to raise starting wages and to reward and keep its most effective employees."Better employees make for happier customers," Brandon said in the filing.Despite sharply declining sales, Toys "R" Us was also extremely late to the game in closing stores. At the time of its bankruptcy filing, the chain had 1,697 stores -- more than it had ever had.In January, it announced plans to shut 182 US stores. Last month it filed for the equivalent of bankruptcy for its UK operations, where it had 105 locations. On Wednesday, hours before announcing the decision to close its US operations, it said it would close the last 75 UK stores.But the closings in recent weeks were far too little, too late. And as a result, now all of US stores will close, and probably most foreign stores as well.The-CNN-Wire 3698

DETROIT, Michigan — General Motors made a major announcement on Monday saying it will close two plants in metro Detroit as well as plants in Ohio and Canada. The plan will help save the company billion by 2020, according to GM.In a news release, the company said it will close the Detroit-Hamtramck Assembly Plant in Detroit and Warren Transmission Operations in Warren. Other plans closing include the Oshawa Assembly Plant in Oshawa, Ontario, the Lordstown Assembly in Warren, Ohio and the Baltimore Operations in White Marsh, Maryland.According to a spokesperson for GM, the plants will be unallocated which means they will no longer produce vehicles in those plants in 2019. According to the company, the future of the plants will be part of contract talks with the UAW next year.PHOTOS: GM will stop producing these 6 vehicles“The actions we are taking today continue our transformation to be highly agile, resilient and profitable, while giving us the flexibility to invest in the future,” said GM Chairman and CEO Mary Barra. “We recognize the need to stay in front of changing market conditions and customer preferences to position our company for long-term success.”According to the release, GM will lay off 14,700 factory and white-collar workers. Of those, 8,100 will be white-collar workers that will either take buyouts or be laid off.The company said that the moves will help continue its focus on crossovers, SUVs and trucks. With the move, GM plans to cut 25 percent of the executive staff and 15 percent of the salaried and salaried contract staff."These actions will increase the long-term profit and cash generation potential of the company and improve resilience through the cycle," Barra added in the release.Detroit Mayor Mike Duggan called the news "troubling," saying he spoke with Barra on Monday morning and has also spoken with UAW President Gary Jones as well as Detroit's economic development team."We all know there is strong demand for manufacturing space in Detroit and we are willing to work with GM to fill all the available manufacturing space at Poletown with either GM-related entities or other companies," Duggan added.Rep. Debbie Dingell, who represents Michigan's 12th Congressional District, is calling on Congress to "work on bipartisan policies that keep manufacturing jobs in this country," adding that she cares deeply for the families affected by the news.According to General Motors, the restructuring will help the company focus more on the electric and autonomous vehicle programs over the next two years. Those focuses include expanding the use of virtual tools, integrating vehicle and propulsion engineering teams, increase component sharing and compress global product development campuses. 2774

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