Aurora Cannabis is Laying Off Huge Swath of Workforce and Shutting Five Facilities
25% of administrative, sales and 30% of its production staff going.
Aurora Cannabis on Tuesday announced a new round of staff reductions and plans to shut five facilities over the next two quarters, as the COVID-19 pandemic pummels the cash-crunched cannabis industry.
For most marijuana companies in Canada, which legalized recreational cannabis in October 2018, profits have proven elusive due to fewer-than-expected retail stores, cheaper rates on the black market and slow overseas growth.
– Read the entire article at Financial Post.