Canopy Growth lays off more workers, won’t say how many impacted by cuts

Canopy Growth lays off more workers, won’t say how many impacted by cuts
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SMITHS FALLS, Ont. — Canopy Growth Corp. is laying off another round of workers as the cannabis company continues to restructure.

The Smiths Falls, Ont.-based company would not say how many employees were impacted by the cuts, but confirmed they were based at its Niagara-on-the-Lake and Smiths Falls locations and said it would share more details in the fall when it releases financial results.

Niagara-on-the-Lake is home to Canopy’s Tweed Farms and Smiths Falls hosts the company’s headquarters.

The layoffs come after Canopy let go of 30 operations staff in Smiths Falls on July 8.

The cannabis company behind the Tweed and Tokyo Smoke brands also culled 500 people from its workforce in March and 85 in April.

The cuts were triggered by a restructuring Canopy began after finding that the Canadian recreational pot market is developing slower than it anticipated and after facing profitability challenges.

This report by The Canadian Press was first published Sept. 4, 2020.

Companies in this story: (TSX:WEED)

The Canadian Press

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