The American tobacco company Altria, with the cigarette brand Marlboro in its portfolio, will reduce costs by at least 600 million dollars (equivalent to 6.4 billion kronor) over five years.
The savings will be used to free up more money for investments in the business, according to an interim report from the company.
The announcement comes in conjunction with a quarterly report where Altria reports sales in line with the average forecast among analysts and confirms the forecast for adjusted earnings per share of 5.07-5.15 dollars this year.
The profit for the third quarter was 1.38 dollars per share, which can be compared to an average forecast of 1.35 dollars per share.
Altria previously owned Swedish Match owner Philip Morris International (PMI), but spun off the international operations in 2008. However, Philip Morris USA, with the cigarette brand Marlboro, remains in Altria.
