Pot company Aurora Cannabis plans layoffs, closing five facilities – Reuters Canada

(Reuters) – Aurora Cannabis (ACB.TO) (ACB.N) on Tuesday announced a new round of staff reductions and plans to shut five facilities over the next two quarters, as the COVID-19 pandemic pummels the cash-crunched cannabis industry. FILE PHOTO: The Logo for Aurora Cannabis Inc., a Canadian licensed cannabis producer, is displayed on a screen on the…

Pot company Aurora Cannabis plans layoffs, closing five facilities – Reuters Canada

(Reuters) – Aurora Cannabis (ACB.TO) (ACB.N) on Tuesday announced a new round of staff reductions and plans to shut five facilities over the next two quarters, as the COVID-19 pandemic pummels the cash-crunched cannabis industry. FILE PHOTO: The Logo for Aurora Cannabis Inc., a Canadian licensed cannabis producer, is displayed on a screen on the floor of the New York Stock Exchange (NYSE) in New York, U.S., January 8, 2019. REUTERS/Brendan McDermidFor most marijuana companies in Canada, which legalized recreational cannabis in October 2018, profits have proven elusive due to fewer-than-expected retail stores, cheaper rates on the black market and slow overseas growth. The industry has been further hit by the COVID-19 crisis, which has also upended fina
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