Canadian marijuana producer Canopy Growth has cut 30 jobs at its Ontario headquarters as a part of corporate restructuring.
The company confirmed to move to Marijuana Business Daily which was first reported by local news website InsideOttawaValley.com.
The lay offs had occurred at Canopy’s Smiths Falls, Ontario, headquarters on July 8th, and affected operations staff members. The job cuts were a result of Canopy Growth’s “ongoing strategic review of the business,” according to Jordan Sinclair, the company’s vice president of communications.
“This decision was made as we continue to adjust the business to match market demands,” Sinclair said.
Canopy has laid off many employees this year as it closed two major greenhouses in British Columbia in Marc. This resulted in about 500 job losses.
In mid-April, Canopy also eliminated 85 positions as it pulled back from cultivation in Africa, Colombia and the United States and closed a facility in Saskatchewan, Canada.
An additional 200 Canopy employees were terminated in Canada, the United Kingdom and the U.S. at the end of April.
It was in May that the company reported a significant fourth-quarter loss and at the time Canopy said it was transitioning to focus on Canada, the United States and Germany.
At the time CEO David Klein said, “Our top-line performance didn’t meet our expectations, and we lost market share in the Canadian recreational market. On the positive side, we finished the full year with 76% year-over-year growth and reduced our cash burn.”