Marijuana Business Daily

Will mass layoffs help or hinder the struggling cannabis industry?

Published

2 years ago

February 23, 2023

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Are widespread layoffs in the North American cannabis industry an effective cost-cutting tool – or will they do more damage in an already challenging environment?

Recent mass layoffs in technology, finance and media has prompted some business researchers to argue that widespread job cuts can be counterproductive when it comes to cutting expenses.

“Layoffs often do not cut costs, as there are many instances of laid-off employees being hired back as contractors, with companies paying the contracting firm,” Jeffrey Pfeffer, a Stanford Graduate School of Business professor, told Stanford News in an interview about the massive numbers of layoffs in the technology industry in December.

In his research, Pfeffer has found that tech layoffs also typically fail to:

Increase stock prices. Boost productivity. Improve market share. Increase revenue.

“Layoffs are basically a bad decision,” Pfeffer said.

Instead of cutting employees, he added, companies should

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Massachusetts fines marijuana MSOs Ascend, Curaleaf a combined $165,000

Published

4 days ago

October 11, 2024

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Massachusetts regulators fined New York-based marijuana multistate operators Ascend Wellness Holdings and Curaleaf Holdings a combined $165,000 for neglecting consumer safety practices.

The Massachusetts Cannabis Control Commission (CCC) fined Ascend $85,000 on Thursday for omitting roughly 900 marijuana products from the state’s required track-and-trace system, The Boston Globe reported.

The allegations, which date as far back as 2021, included failing to seal gaps in doors and ducts as well as workplace deficiencies that led to at least three contaminated cannabis samples.

The CCC fined Curaleaf $80,000 on Thursday for systemic failures limiting contamination from pesticides at its Amesbury and Webster cultivation facilities, according to the Globe.

Meanwhile, the CCC expects to conclude its search

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Florida cannabis businesses shut down, halt delivery as Hurricane Milton nears

Published

6 days ago

October 10, 2024

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Florida cannabis businesses began shutting down this week in anticipation of Hurricane Milton, which was expected to make landfall late Wednesday on the state’s west coast.

Milton’s wrath didn’t sway Florida Gov. Ron DeSantis to extend the Oct. 7 deadline to register to vote in the Nov. 5 election.

In addition to casting votes for president, Florida voters will decide whether to legalize adult-use marijuana in the state.

“People can register today,” DeSantis told the Florida Phoenix on Monday.

“There’s nothing inhibiting you from registering today. The storm has not hit yet.”

Voters’ rights groups had asked DeSantis to extend the deadline as Florida residents continued to deal with the aftermath of Hurricane Helene ahead of Milton making landfall.

Meanwhile, cannabis operators were

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Eaze winding down cannabis delivery operations as new owners ponder future

Published

1 week ago

October 7, 2024

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The CEO of California’s largest cannabis delivery service, Eaze Technologies, said its parent company is winding down operations and new ownership will determine if the business continues.

“Stache LLC will be winding down operations, with the full closure expected to take place on or around December 31, 2024,” Eaze CEO Cory Azzalino told employees last week in an internal memo he posted on his LinkedIn feed Sunday.

Eaze will provide employees an update on or before Nov. 15, he added.

The California-based marijuana delivery company came under new ownership in August after a public auction of its corporate assets.

A bundle of Eaze assets was purchased for $56 million by a firm owned by Netscape co-founder James Henry Clark.

The acquisition by Clark,

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