SMITHS FALLS, Ont. – Canopy Growth Corp. is laying off another round of workers as the cannabis company continues to restructure.<\/p>\n
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.<\/p>\n
Niagara-on-the-Lake is home to Canopy's Tweed Farms and Smiths Falls hosts the company's headquarters.<\/p>\n
The layoffs come after Canopy let go of 30 operations staff in Smiths Falls on July 8.<\/p>\n
The cannabis company behind the Tweed and Tokyo Smoke brands also culled 500 people from its workforce in March and 85 in April.<\/p>\n
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.<\/p>\n
This report by The Canadian Press was first published Sept. 4, 2020.<\/p>\n
Companies in this story: (TSX:WEED)<\/p>\n
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