Canada: Calgary-based cannabis producer SNDL trims 85 jobs

The Calgary Herald

Amid a wave of downsizing buffeting Canada’s cannabis production industry, Calgary-based grower SNDL says it’s cutting 85 jobs.

That staff reduction will be felt at the company’s Olds producing facility with the expectation it will contribute to $9 million in savings, says SNDL, previously known as Sundial Growers.

The operation is one of the largest employers in Olds, a town of 9,200 people 90 kilometres north of Calgary.

It comes at a time when many see the industry as over-extended, which has led to a glut of product.

“We estimate that more than one billion grams of flower are sitting in Canadian vaults today,” SNDL Zach George said in a statement Monday.

“Oversupply and excess capacity have resulted in high-quality flower being widely available and sold well below the marginal cost of production.”

Read more at 

https://calgaryherald.com/news/local-news/calgary-cannabis-sndl-lays-off-100-jobs

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