Supreme Cannabis became the latest LP to announce layoffs this week with news it was cutting its workforce of 700 by 15%.
BNN Bloomberg
- More than 30% of the positions cut were corporate, while 13% were operational.
CTV News - At Supreme subsidiary 7Acres‘ production site, it’s not clear how many people will lose their jobs.
CTV News - Supreme’s shares have declined more than 75% in the past year.
Former Supreme CEO and president John Fowler responded to news of ongoing layoffs at Supreme and other companies by offering to connect potential employees with recruiters and other businesses seeking workers in the sector—and he’s continued to do so, seeking jobs for particular experienced workers and referring laid-off workers to media. Others in the field are also passing along news of LPs hiring.
GrowthOp, Twitter—John Fowler, Chris Stone
This announcement adds to the number of cannabis employees laid off in recent weeks. Last week alone, Aurora cut 500 jobs while Tilray cut roughly 140. Sundial Growers laid off 10% if their workforce in January, and Hexo cut 200 workers in October. Some expect the next layoffs will be at Canopy.
Business Insider, CFO
- Analysts say the layoffs are far from over, even as laying off workers saves money but doesn’t necessarily spur profitability.
BNN Bloomberg, Financial Post
In another departure for Hexo, director Nathalie Bourque resigned from the company board. She follows CFO Michael Monahan, who resigned abruptly in October after only four weeks, and cofounder/Chief Brand Officer Adam Miron, who left in July.
NASDAQ, BNN Bloomberg, Ottawa Business Journal
