Cannabis companies laying off employees as industry hits a downturn

While there are a number of bipartisan cannabis-reform bills floating around Capitol Hill, it's not clear if or when any will become law.

Small marijuana plants grow in a lab at the new Commercial Cannabis Production Program at Niagara College in Niagara-on-the-Lake, Ontario, Canada, October 9, 2018.Chris Beals, the CEO of Weedmaps, said in an August 4 companywide email obtained by Insider that the combination of consumers feeling"a recessionary pinch" and falling wholesale-cannabis prices caused the sales slowdowns.

Tracy Brady, the senior vice president of communications at Curaleaf, told Insider in a statement that the company's job cuts"were made as a result of market changes and the competitive landscape in California." In a statement to Insider, Anne Fleshman, the vice president of marketing at Flowhub, pointed to the aforementioned macroeconomic trends and said the"reality of the current environment" forced them to rein in spending and cut jobs. slowed to a trickle on the once-plentiful venture-capital and private-equity firehose of investmentJust last year, funds like Tiger Global and Josh Kushner's Thrive Capital pushed valuations into cannabis-tech startups to rarefied mega-unicorn territory.

Fake news behind a pay wall, great stuff

I'm surprised there is a cannabis industry. It's ridiculous how easy it is to grow your own weed. For a minimal investment you could provide your own medicine for the rest of your life. I recommended everyone join me in growing dank ass weed in your own homes

An orchestrated sell off of our captive 401ks by money managers isn't a downturn, its theft.

Bad for cannabis users.

Ireland Ireland Latest News, Ireland Ireland Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Will post-Labor Day return-to-office trends finally set the 'new normal' in office usage? - San Francisco Business TimesLabor Day — for the third time since 2020 — has been viewed by many company executives as a milestone to coax, perhaps more forcefully than the past two Labor Days, workers back to the office.
Source: SFBusinessTimes - 🏆 78. / 68 Read more »

The founder of NYC's beloved Astor Wines is selling the company to its employeesEntrepreneurs looking to sell their companies always have the option of selling to their employees — specifically to an Employee Stock Ownership Plan, or ESOP.
Source: axios - 🏆 302. / 63 Read more »