Here’s the key points c/- LA Cannabis News
- Caliva CEO Dennis O’Malley told Business Insider that the California cannabis retailer won’t be renewing its partnership with the cannabis delivery platform Eaze when the current contract expires in March.
- As part of the move, Caliva will let go of over 200 employees, the vast majority of whom are full- and part-time drivers associated with the partnership.
- In an exclusive interview with Business Insider, O’Malley said Caliva plans to expand its own direct-to-consumer platform, rather than partnering with a distributor.
- He also said the company is closing in on a Series B funding round that will exceed the $75 million Series A the company raised in January 2019.
California cannabis retailer Caliva is taking dramatic steps to shore up its business amid a slump in the cannabis industry.
The company is cutting ties with cannabis delivery service Eaze and plans to lay off around one-third of its workforce, CEO Dennis O’Malley told Business Insider. O’Malley said that Caliva plans to build up its own ability to sell cannabis products and deliver them to consumers, instead.
The vast majority of the more than 200 employees cut at Caliva will be full- and part-time drivers who delivered cannabis orders placed via Eaze, Caliva CEO Dennis O’Malley told Business Insider in an interview. Caliva said it plans to hire some of them back into other roles at the firm. Caliva has around 700 employees, meaning that the cuts will affect around one-third of its workforce.
The employees were notified of the cuts early Tuesday morning. O’Malley did not say how many roles would be open for the affected workers to apply to.
And just to remind you here’s another company that joined forces with a music celeb.
Obviously his brand strategy didn’t work that well !
We don’t see any mention of this relationship in the latest slew of releases
Jay-Z joins cannabis company Caliva as chief brand strategist