September 18, 2003 |
R.J. Reynolds Tobacco Holdings Inc. said Wednesday that it would slash its workforce by 40%, or about 2,600 jobs, to cut costs and would focus its marketing on two main brands while combating competition from low-cost cigarettes. The company said its top priority would be to support its top-selling Camel cigarettes, with the Salem menthol brand as its second priority. News of the restructuring drove shares of the No. 2 U.S. cigarette maker up nearly 14%. R.J.
March 12, 1986
A wrongful death lawsuit against the R. J. Reynolds Tobacco Co. by the survivors of a man who had smoked for five decades has been settled, an attorney said. The survivors of John Mark Galbraith agreed to drop an appeal of a jury decision in favor of R.J. Reynolds after the tobacco company decided to waive $39,000 it had been awarded in court costs, said Galbraith family attorney Paul Monzione of San Francisco.
September 7, 2002 |
R.J. Reynolds Tobacco Holdings Inc., responding to discounts by No. 1 cigarette maker Philip Morris Cos., lowered its profit forecasts to increase spending on promotions. Third-quarter net income will decline as much as 38%, R.J. Reynolds said. In July, the company said earnings would fall as much as 4% from the year-earlier period. Annual profit would drop as much as 19%. It had been expected to increase 5% to 7%. R.J.
December 23, 1999 |
R.J. Reynolds Tobacco Holdings Inc. said smuggling allegations leveled against it by the Canadian government relate solely to its former international affiliates. Canada on Tuesday filed suit against Winston-Salem, N.C.-based R.J. Reynolds seeking at least $1 billion, claiming the company smuggled cigarettes into the country to undercut a government plan to discourage smoking with high taxes. R.J. Reynolds said the companies at the core of Canada's case--R.J.
December 12, 2001 |
R.J. Reynolds Tobacco Holdings Inc. won the battle to acquire Santa Fe Natural Tobacco Co., a small player with an affluent following, announcing a definitive agreement to buy the firm for $340 million in cash. Privately held Santa Fe, with $94 million in annual sales, had sparked a bidding war between No.2 U.S. tobacco company R.J. Reynolds and Canadian tobacco company Rothmans Inc., partly because of the appeal of its Natural American Spirit cigarettes.
October 13, 2000 |
R.J. Reynolds Tobacco Holdings Inc. was told to pay about $200,000 in compensatory damages to the family of a deceased Florida smoker. The state court jury declined to award punitive damages. The six jurors, who began deliberations Wednesday, decided the company was negligent in making a dangerous product that caused the death of Suzanne Jones. The 62-year-old mother of one, who smoked for 42 years, suffered from lung and colon cancer.