The Smiths Falls, Ont., cannabis company said Thursday that the layoff will impact 35 per cent of its workforce, with 40 per cent of the cuts happening immediately and the remainder taking place over the next several months.
Canopy said the larger loss was driven primarily by non-cash, fair-value changes and an increase in asset impairment and restructuring costs.As a result of the measures announced Thursday, Canopy will take a pre-tax charge between $425 million to $525 million, but hopes to achieve savings between $140 and $160 million in the next 12 months.
The company will now complete post-production flower activity at 99 Lorne St., which is across the street from 1 Hershey and already has a regional distribution centre, bottling facility and beverage capabilities. The final part of the changes comes in the form of a partnership with Quebec-based EXKA, which holds the world’s largest cannabis library. The company will now manage Canopy’s genetics program, ensuring Canopy can preserve its investments in genetics but also receive optimized strains and new cultivars.
“The unregulated, illicit market is generating billions of dollars of dollars of revenue with 40 per cent of market share and faces virtually no risk of enforcement.”As a result, the legal sector is forced to compete on price “out of necessity,” he said.
Bruce Linton created an overvalued crap company that manufactures lower quality products. They will still fall further. Nothing about their business is appealing to customers. All they did was make bad decisions in pursuit of a higher valuation. Case study for failed business
Didn't they get millions of dollars from Justin Trudeau ?
Well, they can go work at tokyo_smoke … IF they’re vaccinated 😂
CanadaMisfitt Another Trudeau success story!
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Fonte: CP24 - 🏆 30. / 67 Consulte Mais informação »
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Fonte: ctvottawa - 🏆 29. / 67 Consulte Mais informação »
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Fonte: TheTorontoSun - 🏆 23. / 68 Consulte Mais informação »
Cannabis company Canopy Growth to lay off 800, close and consolidate some facilitiesThe move is meant to help the company reach profitability and enable sustainable and long\u002Dterm growth, said Canopy Growth\u0027s chief executive.
Fonte: VancouverSun - 🏆 49. / 61 Consulte Mais informação »
Cannabis company Canopy Growth to lay off 800, close and consolidate some facilitiesCanopy Growth is laying off 35 per cent of its workforce and closing its hallmark 1 Hershey facility in Smiths Falls, Ont. Read on.
Fonte: calgaryherald - 🏆 64. / 52 Consulte Mais informação »