Imperial Tobacco to axe 2,440 jobs after Altadis takeover

Britain's Imperial Tobacco said it will cut six percent of its workforce, with France bearing the brunt of job losses, following the takeover of French-Spanish peer Altadis.

The Bristol based group said in a
statement that it would slash 2,440 jobs as part of a major
restructuring of its European facilities. About 1,060 workers based
in France will lose their jobs and 830 in Spain.

Six factories will face closure,
including two in France, and also in Britain, Germany, Slovakia and
Spain.

Imperial Tobacco bought Altadis earlier
this year in a deal worth 12.8 billion euros (18.8 billion dollars),
creating a tobacco giant which includes well-known brands Embassy
cigarettes and Montecristo cigars.

Imperial also said it would shed about
260 jobs in Britain, 250 in Germany and 100 in Russia.

The group's facilities in Belgium,
Italy, Ukraine and Slovakia would also be affected by 140 losses.
Imperial added that it would create 200 jobs in Poland.

The cigarette maker said the job cuts
would affect sales and marketing, manufacturing and support services
divisions.