BAT stubs out 2,300 jobs as new CEO tackles tobacco sector changes
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(Reuters) - British American Tobacco plans to lay off 4% of its workforce, including a fifth of senior managers, as recently-promoted chief executive Jack Bowles grapples with challenges to the group's legacy products and health fears over vaping.Shares of the second-largest tobacco company by sales were up 1.6 %, the biggest boost to the broader FTSE index on Thursday, after the maker of Lucky Strike and Dunhill cigarettes said it will cut 2,300 roles as it eliminates duplication and..