Juul Labs expected to cut 500 jobs by end of 2019

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Here is the latest business and technology news from Cheddar:

Volkswagen plans to expand electric vehicle production in China to one million cars in three years. VW's aggressive plans are another indication of increasingly stiff competition in EVs. Tesla recently conducted trials of its Shanghai factory and is trying to hit Elon Musk's goal of half a million cars a year.

Juul Labs may cut as much as 15% of its workforce as it faces a likely ban on flavored vaping products that make up the lion's share of its revenues. The Wall Street Journal reports that Juul will cut 500 jobs by the end of this year, which would be a major reversal for the company. It had been hiring like crazy, with an average of 300 new hires a month until a few months ago.

Amazon is planning to challenge the Pentagon's decision to award a $10 billion cloud contract to Microsoft. Amazon was expected to be granted the so-called JEDI deal. Amazon officials are questioning if the decision was influenced by President Trump's ongoing feud with Amazon CEO Jeff Bezos.

 

 

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