Small towns, migrant workers are casualties of the continuing cannabis industry bust

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Across the country, sprawling greenhouses that were meant to employ hundreds are being shuttered

one of the largest cannabis producers in Canada, was shutting down its flagship growing facility in Medicine Hat.

Amid sluggish earnings, stagnant demand and an overall market saturation, some of the largest cannabis companies in Canada have spent much of the past two years downsizing and consolidating their operations. Indeed, four of the largest cannabis companies – Canopy Growth Corp., Aurora, Tilray Inc. and Hexo Corp. – have shed thousands of jobs since hiring peaked in 2019, mainly because they are now closing greenhouses, company filings show.

“There were quite a few technical and professional positions that were lost when Tilray closed down,” said Kim Smythe, president and CEO of the Greater Nanaimo Chamber of Commerce. “Very unfortunate because that’s the sort of brain trust we would have liked to keep in our city.” Other towns haven’t been as lucky. In March, Cronos Group Inc. announced it would close a greenhouse in Stayner, Ont., in the township of Clearlake, just south of Collingwood. The plant employed at least 200 workers, in a town with a population of roughly 14,000.

The group has spent much of the past year and a half helping about 60 migrant workers who were terminated by the cannabis company PharmHouse Inc. when it filed for bankruptcy protection in late 2020.

 

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I'm sorry but that makes zero sense

The penny stock boom and bust cycle strikes again: Major profits for those with start-up stock options and back to thistles and ragweed for the abandoned local cannabis factories. /via

Over capacity. I don't think Canada exports the stuff.

Why aren't Canadians hired to do these jobs?

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