Of course that doesn’t mean any announcements about senior execs paying themselves less… rather 75 more jobs to go in North America and a slow Danish exit stage left as they actually have legislation that is designed to ensure that workers don’t get dumped in the trash at the drop of a hat.
We note that this is “part of” the final stage of Canopy Growth’s end-to-end global strategic review blah blah blah
Canopy Growth Corp. is laying off 75 people in North America, and may cut dozens of additional positions in Denmark, as the Canadian cannabis producer completes a year-long cost-cutting review of its operations, a company spokesperson said.
The restructuring in Canopy’s home market took immediate effect, with 75 people let go in North America, the spokesperson said. Most of those affected workers were employed at Canopy’s headquarters in Smiths Falls, Ont.
“As part of the final stage of Canopy Growth’s end-to-end global strategic review, staffing adjustments were made within our North American operations team earlier today,” the spokesperson told BNN Bloomberg in an emailed statement Tuesday.
Roughly 60 additional employees could be impacted by the company’s plan to wind down operations at its facility in Denmark, the spokesperson said. The potential cuts there are not immediate due to a quirk of Danish law requiring companies to seek consultation with a liquidator over a period of several months to handle any outstanding demands from creditors and close business accounts.
“Employees at the Denmark production facility have also been informed of the proposal to cease operations at the site based on the company’s ability to serve global medical markets with existing Canadian production capacity,” the spokesperson said. “Under Danish law, a consultation period will now take place before any final decision is made.”
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