British American Tobacco (BAT) announced it will eliminate 5,500 jobs globally as part of a restructuring plan aimed at saving €695 million annually by 2028. The company is shifting focus towards smokeless products amid declining traditional cigarette sales, while also outsourcing around 3,500 positions. The announcement has led to a slight drop in BAT's stock price, reflecting investor concerns over the scale of the job cuts and the company's future direction.