“Canopy must reach profitability to achieve our ambition of long-term North American cannabis market leadership,” he said in a statement to The Canadian Press.
Net revenue for what was the third quarter of the company’s financial year totalled $101.2 million, down from $141.0 million a year earlier. The company will now complete post-production flower activity at 99 Lorne St., which is across the street from 1 Hershey and already has a regional distribution centre, bottling facility and beverage capabilities.Article content
Rounding out the facility changes will be the consolidation of cultivation at Canopy’s Kincardine, Ont., and Kelowna, B.C., sites.
Source: News Formal (newsformal.com)
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Cannabis company Canopy Growth to lay off 800, close and consolidate some facilitiesCanopy Growth Corp. will lay off 800 workers as part of a transformation plan that will see the company close its hallmark 1 Hershey facility and consolidate some of its cultivation operations. Legalizing cannabis has caused so much damage to our country. Mental health issues and violence have skyrocketed. Every action = reaction. Consumers clearly weren't going to pay 12.00/gr. Top heavy always falls over. tradesecret Remember when Trudeau said legalizing pot would pay off his massive spending debts? 🤔
Source: CP24 - 🏆 30. / 67 Read more »
Cannabis company Canopy Growth to lay off 800, close and consolidate some facilitiesBREAKING: Canopy Growth Corp. will lay off 800 workers as part of a transformation plan that will see the company close its hallmark 1 Hershey facility and consolidate some of its cultivation operations. ottnews Very bad news for the people being laid off. That being said, less boof being grown by Canopy is net good news! A huge issue facing down the cannabis industry in Canada is the weird restrictions in place on how much can be supplied in what form. For example. 10mg of cannabis per edible package makes almost no sense. It's not only costly and not competitive, it's wasteful. I guess these companies thought all Canadians were eager to smoke weed. Wrong.
Source: ctvottawa - 🏆 29. / 67 Read more »
Cannabis company Canopy Growth to lay off 800, close and consolidate some facilitiesThe move is meant to help the company reach profitability and enable sustainable and long\u002Dterm growth, said Canopy Growth\u0027s chief executive. Well this legalization didn’t fair well. Guess illegal pot is cheaper Like I said from beginning, it will return to mom and pop growers. There is not enough profit for big business to sustain itself. Remember mom n pop can grow for much less/ LB. close em all.....stop selling to kids
Source: TheTorontoSun - 🏆 23. / 68 Read more »
Cannabis company Canopy Growth to lay off 800, close and consolidate some facilitiesThe move is meant to help the company reach profitability and enable sustainable and long\u002Dterm growth, said Canopy Growth\u0027s chief executive.
Source: VancouverSun - 🏆 49. / 61 Read more »
Canopy Growth to lay off 800 workers, close and consolidate some facilitiesCanopy Growth is laying off 35 per cent of its workforce and closing its hallmark 1 Hershey facility in Smiths Falls, Ont. Read on. 🤬🤬🤬 The best thing to happen to the retail cannabis space in Canada would be for all the monoliths like Canopy & Sundial to go bankrupt. More mom+pop craft experiences, less corporate beige. An example of getting into a business when you don’t understand the product. Cannabis 101: cannabis that’s factory farmed and pumped with synthetic nutrients takes like 💩
Source: nationalpost - 🏆 10. / 80 Read more »
Canopy Growth to lay off 800 workers, close and consolidate some facilitiesCanopy Growth is laying off 35 per cent of its workforce and closing its hallmark 1 Hershey facility in Smiths Falls, Ont. Read on.
Source: financialpost - 🏆 7. / 85 Read more »