Curaleaf, one of the largest cannabis companies in the world, has laid off hundreds of its staff, Insider has learned.
The company laid off around 220 employees ahead of the Thanksgiving holiday, the company confirmed to Insider.
In a statement to Insider, Curaleaf said the cuts were “a part of an effort to control costs and drive efficiencies in the face of economic uncertainties ahead.” A company spokesperson declined to say which departments the cuts were concentrated in.
Curaleaf employs over 6,000 people, according to its website.
“I don’t like having to deliver this news, and we haven’t reached this decision easily,” Curaleaf CEO Matt Darin said in a company-wide email sent to employees and reviewed by Insider. Darin, who took over the top job in May, said Curaleaf was in discussions with unionized employees at affected Curaleaf locations.
Curaleaf cultivates cannabis and sells it through shops in 21 states, including Michigan, Illinois, and New Jersey.
Curaleaf previously laid off about 50 workers and closed a major facility in Sacramento in August, Insider reported.
“The cannabis industry has grown fast and is constantly evolving,” Darin said in the email. “In the current environment with inflationary pressures, increased competition and slowing growth, it’s incumbent on us to be more efficient.” [Read More @ Insider]
Your email address will not be published. Required fields are marked *
Name *
Email *
Website
Save my name, email, and website in this browser for the next time I comment.
Comment *
Notify me of follow-up comments by email.
Notify me of new posts by email.
Δ
By Hannah King and Arin Aragona Plans for Kentucky’s medical cannabis program took a significant turn last week with the passage of House Bill 829 and the implementation of emergency…
By Steven Ascher and Anna M.Windemuth The unique status of the cannabis business — legal in a majority of states, but still illegal under federal law — creates a thorny…
By Courtney A. Hunter and Jessalyn H. Zeigler Demand for cannabidiol (CBD) products continues to climb, and the market has risen to the occasion. There is now a robust array…
Confidential documents obtained by THE CITY reveal how Chicago Atlantic Group became one of the biggest beneficiaries of the state’s legalization program. Last June, Gov. Kathy Hochul announced that a…