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Canada's cannabis companies cut 6,000 jobs during COVID-19 pandemic

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Canopy Growth, Tilray, Sundial and Aurora Cannabis led job losses during the COVID-19 pandemic as the Canadian cannabis sector overbuilt production capacity,...

Canadian cannabis companies laid off about 6,000 people — or about 30% of their collective workforce — as the COVID-19 pandemic and oversupply took its toll on the industry, according to a study by MJBizDaily.com.

All told, the job reductions amounted to about 30% of a total of 20,000 positions in the cannabis sector, the MJBizDaily reported. The study of public filings also revealed that the country’s cannabis sector drew in more than $112 million in government money to keep or rehire employees. Most of the job figures were from 2020 filings since many of the companies have not yet filed figures for 2021 employment.

 

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This year has been rough on the cannabis market. Time will tell what companies have enough cash flow to survive.

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