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Cannabis producer Canopy cutting 800 jobs, closing flagship Canadian facility

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(This is a developing story and will be updated.)

Canadian cannabis producer Canopy Growth said Thursday it is closing its flagship cultivation facility in Smiths Falls, Ontario, and cutting more a third of its workforce as part of a shift to an “asset-light model” in Canada.

Canopy disclosed the new strategy when it reported a third-quarter net loss of 267 million Canadian dollars ($200 million), bringing the company’s red ink in the first three quarters of the year to CA$2.6 billion.

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Canopy said it is cutting its workforce by approximately 35%, including 800 positions impacted by Thursday’s announcement.

Forty percent, or roughly 300 positions, were terminated effective immediately, a spokesperson told MJBizDaily via email.

The layoffs come as cannabis companies across North America have been shedding hundreds of jobs and closing facilities because of falling wholesale marijuana prices, recession worries and cash-strapped consumers keeping a tighter

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Ohio House Republicans’ cannabis measure a ‘slap in face,’ NORML says

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Changes to Ohio’s voter-approved adult-use cannabis law proposed in a bill introduced this week by House Republicans are less extreme than those passed by the state Senate.

However, the proposed business restrictions, social equity program elimination, THC potency limits and penalties are still a “slap in the face to the 57 percent of Ohio voters who approved” legalization in November 2023, NORML said in a statement.

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House Bill 160, sponsored by Republican state Rep. Brian Stewart, would also restrict the sale of products with hemp-derived THC to licensed marijuana stores and dispensaries, according to the Statehouse News Bureau.

In addition, the bill would:

Cap the number of marijuana stores allowed statewide at 350. Impose a buffer zone of a half-mile between

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Building cannabis brands that reach across markets

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(This is a contributed guest column. To be considered as an MJBizDaily guest columnist, please submit your request here.)

Richard Proud (Courtesy photo)

Consumers can be a perplexing group – and even contradictory – especially in an industry as new and complex as cannabis.

This makes the task of building cannabis brands that resonate across geographical areas a significant challenge.

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The best brands find ways to connect, knowing their audience will react to brands that help them feel good about themselves, their community and the decisions they make.

As former Starbucks CEO Howard Shultz said, “If people believe they share values with a company, they will stay loyal to the brand.”

Consumer appeal and connection

For marijuana businesses, consumer nuances pose a unique challenge: How

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From client to co-founder, Storz & Bickel executive on US tour to drum up cannabis business

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Jürgen Bickel is not only the founder and managing director of Storz & Bickel, he’s also a longtime client of the company’s iconic cannabis smoking device.

The medically certified product manufacturer, based in Tuttlingen, Germany, is celebrating the 25th anniversary of its Volcano vaporizer, which has sold hundreds of thousands of units worldwide since its early days on the market when Bickel first tried it as a consumer.

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“It’s really for people who are frequently using cannabis,” he told MJBizDaily during a recent interview and product demo at a private cabana at The Woods in West Hollywood, California.

“There’s a lot of patients who really need to use it several times a day.

“They need reliability and reproducibility.”

The Woods, owned by

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