British American Tobacco on Thursday announced a new AI-driven productivity programme expected to lead to job cuts, while reporting higher annual profit as its Velo nicotine pouch gained U.S. market share and sales of newer products picked up.
Interim finance chief, Javed Iqbal, said the programme would see BAT, which sells cigarettes, tobacco and other nicotine products, simplify and automate using data analytics and AI tools, adding it would affect staffing levels. “It will have an impact on the size of the organisation,” he said on a call, but noted it was too early to say how much of the workforce would be affected. BAT shares, which surged 46% last year, were down 1.8% at 4,348 pence in mid-morning trading.
