Canopy Growth lays off more workers, won't say how many impacted by cuts - InfoNews

Current Conditions

Haze
18.9°C

Canopy Growth lays off more workers, won't say how many impacted by cuts

Staff work in a marijuana grow room at Canopy Growth's Tweed facility in Smiths Falls, Ont., on Thursday, Aug. 23, 2018. Canopy Growth Corp. is laying off another round of workers as the company continues a restructuring. THE CANADIAN PRESS/Sean Kilpatrick
September 04, 2020 - 9:32 AM

SMITHS FALLS, Ont. - Canopy Growth Corp. is laying off another round of workers as the cannabis company continues to restructure.

The Smiths Falls, Ont.-based company would not say how many employees were impacted by the cuts, but confirmed they were based at its Niagara-on-the-Lake and Smiths Falls locations and said it would share more details in the fall when it releases financial results.

Niagara-on-the-Lake is home to Canopy's Tweed Farms and Smiths Falls hosts the company's headquarters.

The layoffs come after Canopy let go of 30 operations staff in Smiths Falls on July 8.

The cannabis company behind the Tweed and Tokyo Smoke brands also culled 500 people from its workforce in March and 85 in April.

The cuts were triggered by a restructuring Canopy began after finding that the Canadian recreational pot market is developing slower than it anticipated and after facing profitability challenges.

This report by The Canadian Press was first published Sept. 4, 2020.

Companies in this story: (TSX:WEED)

News from © The Canadian Press, 2020
The Canadian Press

  • Popular kelowna News
View Site in: Desktop | Mobile