OTTAWA – Hexo Corp. says it will close three recently acquired facilities and layoff about 155 workers as it works to streamline production.<\/p>\n
The Ottawa-based cannabis company says it will shutter properties in Kirkland Lake and Brantford, Ont., that it acquired when it bought 48 North Cannabis Corp.<\/p>\n
The company will also close a Stellarton, N.S., facility it picked up in its purchase of Zenabis Global Inc.<\/p>\n
The Ontario closures are expected to be complete by Jan. 31, while the Nova Scotia property will be decommissioned by Feb. 28.<\/p>\n
Hexo estimates 155 workers will be affected by the closures aimed at centralizing the company's cultivation, manufacturing and distribution operations.<\/p>\n
The moves come less than a month after Scott Cooper was appointed chief executive after Hexo co-founder Sebastien St-Louis left the company during a strategic organization.<\/p>\n
"This was a very difficult decision, but it is a key component of our integration plan, and one that we believe best positions HEXO for continued growth," Cooper said in a statement.<\/p>\n
This report by The Canadian Press was first published Nov. 9, 2021.<\/p>\n
Companies in this story: (TSX:HEXO)<\/p>\n
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