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. Last Updated: 07/27/2016

RJR Cuts 4,000 Jobs




NEW YORK -- RJR Nabisco Holdings Corp. on Monday said it would cut about 4,000 jobs in its worldwide tobacco business and eliminate an undetermined number of other jobs as it continues to restructure its struggling Nabisco Holdings Corp. snack food business.


RJR said the cost of the restructuring - spurred by a host of issues ranging from the $206 billion national tobacco settlement to sluggish snack food results - would result in fourth-quarter after-tax charges expected to total $348 million, or $1.07 per share.


RJR said its R.J. Reynolds Tobacco Co., the No. 2 U.S. tobacco company and maker of Camel, Winston and Salem cigarettes, was cutting about 1,300 jobs in the United States, including 315 layoffs announced last month.