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Will mass layoffs help or hinder the struggling cannabis industry?

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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.

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“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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Marijuana Business Daily

The rapid collapse of MedMen co-founders’ latest marijuana venture

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The latest foray into the legal marijuana industry by MedMen Enterprises co-founders Adam Bierman and Andrew Modlin rapidly collapsed amid lawsuits alleging unpaid bills and a dispute with a business partner, court records and public licensing information show.

Megabud – described as a “chain of cannabis convenience stores” – launched in December 2022 with three locations in the San Francisco Bay Area.

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The chain, which had ambitious expansion plans, represented at least the third legal cannabis venture for Bierman and Modlin, whose infamous tenure as MedMen executives saw the marijuana multistate operator go public on the Canadian Securities Exchange with an implied valuation of $2 billion before an equally spectacular implosion.

A second cannabis retail chain in which Bierman and Modlin owned a

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Artificial cannabinoids, illegal THC potencies in hemp shipped to California

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A new study by a group of licensed cannabis businesses and affiliates highlights the widespread presence of synthesized cannabinoids and THC limits far exceeding California law in dozens of products shipped into the state branded and identified as hemp.

According to “The Great Hemp Hoax” – a white paper released Thursday – 95% of the 104 tested products from 68 brands contained synthesized cannabinoids, which are banned in California.

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Several products, which were shipped via online purchases, also contained high THC potencies and other compounds.

The “The Great Hemp Hoax” found:

Some gummies contained 32 times more THC than state limits. Vape products on average had THC levels 268% above legal thresholds. Nearly half contained synthetic THCP, a compound researchers describe as

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Cannabis testing lab fraud can be curbed if industry is ‘part of the solution’

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Scientist David Vaillencourt has spent most of his cannabis industry career working on standardizing the rules, measurements and recommended procedures that guide licensed marijuana businesses.

Vaillencourt certainly has the credentials to back his mission:

Vice chair of Pennsylvania-headquartered ASTM International’s Committee D37 on Cannabis Standards. Board chair and co-founder of the S3 Collective, a cannabis industry nonprofit in Colorado advocating for industry standardization. CEO of the GMP Collective, his Colorado-based consulting firm.

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His work has often intersected with the marijuana industry’s testing lab niche, which in recent months has been rocked by scandals and lawsuits in major markets such as California, Colorado, Massachusetts and New York.

MJBizDaily spoke about testing lab fraud with Vaillencourt, who welcomes increased scrutiny of the sector

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