Two hemp and CBD startups just laid off workers as the industry confronts a uniquely challenging phase

Hemp and CBD companies have laid off workers in recent weeks, Business Insider has learned.Colorado-based Mile High Labs laid off 20 staffers on Thursday, concentrated among entry-level sales roles, the company confirmed.The Kentucky-based hemp grower and CBD manufacturer GenCanna laid off 65 employees in December, the company confirmed.Click here for more BI Prime stories, and subscribe…

Two hemp and CBD startups just laid off workers as the industry confronts a uniquely challenging phase

Hemp and CBD companies have laid off workers in recent weeks, Business Insider has learned.Colorado-based Mile High Labs laid off 20 staffers on Thursday, concentrated among entry-level sales roles, the company confirmed.The Kentucky-based hemp grower and CBD manufacturer GenCanna laid off 65 employees in December, the company confirmed.Click here for more BI Prime stories, and subscribe to our weekly cannabis newsletter, Cultivated.Times are tough in the cannabis industry, and hemp companies are no exception.The hemp and CBD startups GenCanna and Mile High Labs have laid off a number of employees in recent weeks, Business Insider has learned.Mile High Labs laid off 20 staffers on Thursday, concentrated among entry-level sales roles, the Colorado-based CBD manufacturer’s chief financial officer, Jon Hilley, told Business Insider in an interview. The Kentucky-based hemp grower and CBD manufacturer GenCanna laid off 65 employees in December, Steve Bevan, the company’s president and executive chair, said.Read more: Cannabis companies have slashed over 1,000 jobs in recent weeks as the industry contends with a ‘toxic’ landscape. We’re keeping track of all the cuts here.For Mile High Labs, the layoffs represent just under 10% of total staffers out of a head count of 250 before the layoffs, Hilley said. ‘The business has to evolve'”
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