Aurora announced it’s closing five of its smaller production sites and laying off about 700 employees, cutting 25% of sales, general, and administrative staff “with immediate effect,” and 30% of production staff over the next two quarters.
MJ Biz Daily
Executives were cut as well, including former chief product officer Shane Morris, and former director of corporate social responsibility Jonathan Zaid (founder of Canadians for Fair Access to Medical Marijuana).
Twitter–@MJBizDailyIntl, @DrShaneMorris, @JonZaid, Newswire.
The five shuttered facilities represent roughly 40% of Aurora’s costs, a Cantor Fitzgerald analyst told BNN Bloomberg.
- These charges follow a $1B writedown and previous cuts to 500 jobs earlier this year.
Yahoo Finance
The company does not expect any decline in production.
Global News
