By Rory Gallivan
LONDON-- Imperial Tobacco Group PLC Tuesday announced
restructuring measures in Europe that will result in up to 900 job
losses.
The restructuring is part of a cost-optimization program that
will deliver savings of GBP300 million ($502 million) a year from
September 2018, said Imperial, whose cigarette brands include
Davidoff and Gauloises.
The projects are planned to be implemented progressively over
the next two years and include the proposed closure of cigarette
factories in Nottingham, the U.K. and Nantes, France, it said.
"The prospect of job losses is always regrettable and we will be
doing all we can to support employees and ensure that they are
treated in a fair and responsible manner," said Chief Executive
Alison Cooper.
Shares at 1015 GMT were up 9 pence, or 0.3%, at 2,482 pence
valuing the company at GBP23.8 billion.
Write to Rory Gallivan at rory.gallivan@wsj.com
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