More pain in store for Canadian marijuana companies after Aurora Cannabis, Tilray cut jobs

📆 2/7/2020 10:45 PM
📰 Reuters

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Investors are bracing for more job cuts and writedowns at Canadian cannabis prod...

) rapidly expanded at home and overseas as capital flooded into the industry before legalization.

Lack of profitability is common in new industries, but a prolonged period of higher cash burn unnerves investors. An Aurora spokeswoman said the company was making “aggressive changes” because its previous cost structure was “misaligned with the current market conditions”. The cuts and existing financing will cover costs until it sees profits, she said.

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